Vietnamese stock market: favorable conditions converge (30/7)
30/07/2015 - 16 Lượt xem
The Prime Minister’s Decision No 55 dated in 2009 stipulated that foreign investors must not hold more than 49 percent of the chartered capital in one Vietnamese listed enterprise.
Bang said the Vietnamese officials’ meetings with the US investors in
early July brought outcomes better than expected by the government and
ministries. Therefore, MOF decided that the legal documents guiding the
implementation of Decree No 60 must be promulgated in July as committed
by Minister of Finance Dinh Tien Dung.
“We wish to see listed and public companies prepare well for the lifting
of the foreign equity cap right now, so that the new regulation can
come into reality from early September,” Bang said.
SSC and MOF last week even discussed a solution of offering companies
which can meet requirements and operate in unconditional business fields
to have a high foreign ownership ratio of up to 100 percent, with no
need to wait for guiding documents.
Businesses which want to have less than 100 percent of foreign ownership
ratio would be allowed to adjust the ratio in accordance with the
shareholders’ council meeting and the businesses’ chapters.
The suggested solution, if applied, would help ease the procedures that
businesses and investors have to follow, and therefore, it has been
advocated by the market’s members.
However, Bang has said that MOF will still have to discuss further with
MPI on the solution, because under the Enterprise Law, businesses have
to hold shareholders’ meetings if they want to amend businesses’
chapters.
The SSC’s plan on the T+2 payment method has received strong support from all market members.
Meanwhile, the Vietnamese stock market has become a ‘hot spot’ catching
the special attention of the world’s investors. CNBC, Bloomberg and
financial websites have published articles about Vietnam’s recent
macroeconomic improvements.
The 17 percent growth rate of the VN Index this year, in the eyes of
foreign analysts, shows that the stock market has bounced back after
seven years of decline.
Source: TBKTSG
