Vietnam to Re-check Foreign Indirect Investment

The Ministry of Finance has proposed the State Bank of Vietnam (SBV) coordinate with the ministry in re-checking total foreign indirect investment capital to help complete the draft regulation on foreigners’ transactions in Vietnam’s stock market, the Dau Tu Chung Khoan newspaper said on May 19.

 

In an effort to foster the plunging stock market, the Finance Ministry proposed that the SBV should temporarily relax the supply of capital for the stock and property markets, the newspaper said.

 

The SBV is also asked to re-check total loans in foreign currencies and short-term loans.

 

The draft regulation on foreign securities transactions will give mechanism for foreign investors to make reports about indirect investment capital automatically. It will enable foreign investors to set up 100 per cent foreign owned fund management companies in Vietnam sooner than the country’s WTO commitments. (Securities Investment)