Vietnam’s government is looking to sell part of its stake in Military Commercial Joint Stock Bank, a large local lender with a market capitalization of close to $2 billion, people familiar with the plans said. The government is appointing banks to conduct the sale, the people said, likely to a single strategic partner. Hanoi is paring its ownership of hundreds of state enterprises to move toward a more private-sector-led economy.

Source: Wall Street Journal July 15, 2019 03:00 UTC