Vietnam Maritime Corporation Plans Major Strategic Shift
By Hai Yen
Fri, January 16, 2026 | 8:45 am GMT+7
In a significant move that has sent ripples through the financial markets, the Vietnam Maritime Corporation (UPCoM: MVN) is planning to reduce state ownership from 99.47% to 65%. This ambitious plan includes listing its shares on the Ho Chi Minh City Stock Exchange (HoSE), marking a crucial step towards increasing operational efficiency and attracting investment.
Shares Surge on News
The announcement sparked an immediate response in the stock market, with MVN shares soaring to the ceiling price of VND73,300 ($2.79). This sharp rise lifted the company’s market capitalization to over VND88 trillion ($3.35 billion), signaling strong investor confidence in the corporation’s future direction.
A Comprehensive Strategic Plan
MVN is undertaking extensive consultancy efforts to facilitate a series of transactions aimed at restructuring for future growth. This includes a capital increase, a public share offering, and engaging strategic investors—all crucial components for a successful transition to public trading on the HoSE.
The timeline for this transformation is meticulously planned. Advisory work is anticipated to last between 10 to 15 weeks, followed by public offerings and sales to strategic investors within 16 to 22 weeks. Overall, the entire listing process, including necessary regulatory approvals, is expected to span between 30 to 36 weeks.
Alignment With National Goals
This strategic shift aligns with Resolution 79 on state economic development, which designates MVN as a core enterprise in Vietnam’s maritime and logistics sectors. By reducing state ownership, the organization aims to meet the shareholder structure requirements for large-cap listed companies, opening doors for greater private investment and expertise.
Financial Overview
In the first nine months of 2025, VIMC recorded impressive net revenue of VND13.65 trillion ($520 million), a 10% increase from the previous year. However, it faced challenges with net profit, which fell by 15% to VND1.91 trillion ($72.78 million). This financial snapshot indicates both the resilience and the pressures the corporation is navigating as it transitions into a more competitive environment.
Transitioning to Integrated Logistics
VIMC is repositioning itself from a traditional port operator to an integrated logistics services provider. This shift is anchored on three core pillars: seaports, maritime transport, and marine services. By focusing on these areas, the corporation aims to enhance its service offerings and respond more effectively to market demands.
Key infrastructure assets are central to this strategy, particularly the Cai Mep-Thi Vai deep-water port cluster in southern Vietnam. This facility features two prominent joint ventures—Cai Mep International Terminal (CMIT), operated in collaboration with APM Terminals, and SSIT, developed with SSA Marine.
High-Capacity Terminals
Both terminals in the Cai Mep-Thi Vai cluster are designed to handle ultra-large container vessels, providing direct routes to Europe and the U.S. without the need for transshipment. This capability is instrumental in offering significant cost and time efficiencies, making it a pivotal component of global supply chains.
In summary, the Vietnam Maritime Corporation’s upcoming changes reflect a broader trend within state-owned enterprises in Vietnam aiming for increased competitiveness and agility in a rapidly evolving market. As MVN ventures into this new phase, its strategic initiatives promise to enhance its influence in both domestic and international logistics networks.