Vietnam seeking more stock ownership for foreigners

Reuters

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Vietnam is seeking to give bigger ownership to foreign stock investors in line with its international trade commitments, the country's finance minister said on Tuesday.
The Finance Ministry has submitted to the government amendments to a decree on foreign ownership in Vietnamese listed firms, with changes "in line with World Trade Organization commitment", minister Dinh Tien Dung told a business forum in Hanoi. He did not elaborate.
WTO commitments mean no limits for foreign ownership in Vietnamese firms, except for sectors under specific laws and sectors related to national security, according to the State Securities Commission, the stock market watchdog.
Foreigners are now restricted to 49 percent of Vietnamese equities excluding banks where they have a 30-percent limit.

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