In December 2025, the People's Committee of Khanh Hoa province issued a Project to restructure state-owned enterprises of Khanh Viet Corporation (Khatoco) until the end of 2025, with many important provisions to improve operational efficiency, preserve and develop state capital.
Maintaining the parent company - subsidiary model
According to the project, Khanh Hoa province will continue to maintain Khatoco as a company Limited with 100% state capital.
At the Corporation's Office, 5 departments and branches including: Finance - Accounting, Administration - Human Resources, Plan - Investment, Import - Export and Legal Affairs are kept stable.
Of the 12 existing dependent accounting units, the province decided to keep the dependent accounting model for 10 units.
These are Khatoco Khanh Hoa Cigarette Factory; Khatoco Nghe An Cigarette Factory; Khatoco Phu Yen Cigarette Factory; Khatoco Branch in Gia Lai; Khatoco Ingredients Cigarette Company; Khatoco Branch in Ho Chi Minh City; Yang Bay Tourism Park; Khatoco Crab and Almond Trading Company; Khatoco Garment Enterprise; Khanh Hoa Football Club.
The two units, the Khatoco Quang Nam Pisting Seed Center and the Khatoco Ninh Hoa Pisting Seed Center, will cease operations.
The Board of Members of the Corporation is authorized to proactively establish, reorganize or dissolve branches, representative offices and dependent units when necessary.
Arrangement of subsidiaries and affiliated companies
For its subsidiaries, Khatoco continues to maintain the operating model of Khatoco Trading Company Limited and Khatoco Real Estate Investment and Trading Company Limited (the Corporation holds 100% of the capital).
For the two subsidiaries in which Khatoco holds over 50% of its charter capital, Long Phu Tourism Joint Stock Company and Tan Khanh An Packaging Joint Stock Company, the province requires the Corporation to divest all capital.
Regarding the capital contribution at the affiliated companies, Khatoco kept the same ratio at Dong A Joint Stock Company and Khatoco Packaging Printing Joint Stock Company.
At the same time, all contributed capital was divested at 6 units including: Khatoco Liberty Joint Stock Company, Khanh Ha Investment Joint Stock Company, Nha Trang Tropical Company Limited, Khanh Tam Tourism Joint Stock Company, Invest Park Nha Trang Company Limited and Tan Viet Joint Stock Company.
The project clearly states that divestment must be implemented according to the principle of preserving state capital, complying with legal regulations and implemented through public auctions after valuation by independent and reputable financial consulting units.
The value of an enterprise, including land use rights, must be determined according to the market.
In case the competent authority requests to re-auction land use rights or revoke projects related to subsidiaries and affiliated companies, Khatoco must temporarily suspend divestment and report for handling according to regulations.
In particular, the Royal Tourist Apartment and Hotel Project under Long Phu Tourism Joint Stock Company is currently under inspection according to Decision No. 129/QD-TTT dated September 1, 2025.
According to the VNTAX 200 - Top 200 enterprises paying the largest budget in Vietnam in 2025 (based on the actual amount paid in 2024), Khatoco is ranked 34th with a budget contribution of more than VND 4,080 billion. This is the second year this list has been published to honor enterprises that have made great contributions to the national budget.
In the period of 2025 - 2030, Khatoco sets a target of an average annual consolidated revenue growth of 10% (over VND 13,000 billion/year); maintains the 3- taxes payment in Khanh Hoa to increase by 5%/year (average over VND 3,800 billion/year); annual export turnover reaches 60 million USD or more.
