Vietnam’s Ministry of Industry and Trade has denied rumors that shares of Saigon Beer - Alcohol - Beverage Joint Stock Corporation (Sabeco) have been sold to Chinese investors. At a regular press conference which was held this afternoon, the Deputy Minister of Industry and Trade Do Thang Hai was asked about the rumors.
In response, Mr. Hai confirmed that the information was completely false. According to Deputy Minister of Industry and Trade, there are currently only two big investors holding Sabeco's capital ownership: Vietnam Beverage (ThaiBev - Thailand) and the Ministry of Industry and Trade. Mr. Hai stressed that the Ministry of Industry and Trade is still the representative of the owner of the State capital, accounting for 36% at Sabeco.
"We hold the right to veto when the Board of Directors makes inappropriate business and development plans. Currently, the State still has capital in many businesses, "Mr. Hai said.