Vietnam Govt OKs New Rules on Foreign Stakes in Local Firms, Vietnam Financial News
Vietnam Business » Vietnam Financial News » Vietnam Govt OKs New Rules on Foreign Stakes in Local Firms
Prime Minister Nguyen Tan Dung has just approved new regulations for foreigners holding stakes in local firms, the Vietnamese government said on its Website on June 22. Under the new rule, foreigners are allowed to use the shares they hold in local listed firms as collateral to take loans from banks, and they are permitted to convert freely their earnings into dollars.
Foreign companies with branches in Vietnam, foreign investors who already hold 49 per cent of stakes in local stock brokerages or that hold 49 per cent of stakes in local firms are eligible to take advantage of the new regulations, the government said. As for 100 per cent state-owned companies, foreigners are allowed to hold stakes at rates approved by the government, it added. Foreigners can buy stakes via initial public offering of joint stock companies, can buy approved stakes for sale in 100 per cent state-owned firms to be privatized, and can buy additional shares that local firms plan to issue.
Vietnam Business And Financial News Network. Source [vcci]
Vietcombank H1 Pretax Profit of VND2,450B Meets 75 per cent of Year's Target
The Joint Stock Bank for Foreign Trade of Vietnam (VCB) made pretax profit of VND2,450 billion in the first half this year, fulfilling 75 per cent of its yearly target,
Bank For Agricultural Of Ho Chi Minh City
These are some of the leading stories in the official Vietnamese press on Tuesday. Reuters has not verified these stories. -- Partly private Dong A Bank said it made a
PetroVietnam Asked to Rebuild Financial Plan for Dung Quat Refinery
The US$3.1-billion refinery has to date produced gasoline A92, kerosene, diesel oil, and liquefied petroleum gas (LPG) for the market. The plant had sold a total of 5,630 tons of
Sheraton set for Nha Trang market entry
The Sheraton Nha Trang, located in the central coastal city of Khanh Hoa Province, will host its soft opening on March 19 to welcome both business and leisure travellers. The
Dana - Italy Steel JSC applies for listing shares on northern bourse
Hanoi Stock Exchange (HNX) announced to receive application profile for listing 15 million shares of Dana - Italy Steel Joint Stock Co on March 19, 2010. The company with chartered
Low-income Apartment Segment Attracts Investors
While the apartment block segment has not yet seen recovery; low-cost houses are attracting speculators attention, which has helped to form a sudden price hike in realty in the west
Vietnam garment exports set to rise as industry holds line on prices
Viet Nams garment industry has a worldwide reputation for making competitively priced and high quality garments, a survey conducted by the US-based non-profit group Kearny Alliance has found.
Vienam eeal estate developers race to build skyscrapers
Thirty-seven, sixty-eight, seventy, even 102 storeys - in Hanoi and Ho Chi Minh City, bigger and bigger buildings are reshaping the skyline. Most skyscraper projects have been developed by heavyweights