Viet Nam to Re-check Foreign Indirect Investment

Friday, May 23, 2008
The Ministry of Finance has proposed the State Bank of Viet Nam (SBV) coordinate with the ministry in re-checking total foreign indirect investment capital to help complete the draft regulation on foreigners’ transactions in Viet Nam’s stock market.

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% foreign owned fund management companies in Viet Nam sooner than the country’s WTO commitments. (Securities Investment)