The logo of Agribank is seen on a building in Ho Chi Minh City.
Photo by Shutterstock/StreetVJ. 

The Vietnamese government’s plan to privatize 128 state-owned companies in 2017-2020 has fallen way behind schedule, with only 29 percent of them sold so far. 

The Ministry of Finance said in a statement that 37 out of the 128 companies have been divested as of July, meaning 91 remain to be sold off in five months.

The Covid-19 pandemic has impacted all areas of the economy, resulting in the delay, the ministry said.

Companies that have been identified for initial public offerings but are yet to complete their valuation include mobile operator MobiFone, lender Agribank, and mining firm Vinacomin.

The 128 companies are part of 177 the government has identified for privatization.