The news comes as a controversial cybersecurity law is set to take effect next month, requiring global technology firms to open local offices and store data in the country.
At the current market price, the planned BIDV shares issued to KEB Hana Bank are worth $735 million.
MUFG owns 19.73 percent of the Vietnamese lender, according to Refinitiv data.
Officials from the finance and investment ministries found it logical to halt the project given its lack of competitiveness, concerns about oversupply and uncertainty over tax support.
The new agency will manage 19 state-owned companies in which the government holds stakes with a combined book value of $42.9 billion.
Carlsberg currently holds 17.34 percent of Habeco and has expressed an interest in raising the stake, but discussions have dragged for years.
Future deals would focus in the real estate and consumer sectors, while telecom, energy, infrastructure, pharma and education are also likely to attract funds
The acquisition by FPT, one of Vietnam’s top technology firms, reflects the company’s goal of adding consultancy to its information technology services
This move pairs GM’s automotive expertise with VinFast’s local market insight.
The initial sale of a 7.79% stake in the refinery was part of the Vietnamese government’s plan to privatise hundreds of state-owned enterprises