Vietnam to Lift Ratio on Foreign Ownership to 49 Percent
Dec. 2 – Vietnam will soon raise the ceiling on foreign ownership in local businesses from 30 percent to 49 percent, says deputy chairman of the State Securities Commission (SSC) Nguyen Doan Hung during a workshop sponsored by Euromoney and the Ministry of Finance.
The set ratio will include total chartered capital except credit institutions. Vietnam News reports that no ceiling will apply for member funds with up to 100 percent foreign owned member funds allowed.
Hung added that the government is also mulling over whether to allow foreign investors to own up to 49 percent of total chartered capital of local securities trading organizations.The government has been actively revising rules to entice more foreign investment in the country.
Andy Ho, managing director of Prudential Vietnam Fund told Vietnam News that he found from the meeting with foreign investors that all remain optimistic about Vietnam’s stock market in the medium and long term.
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