Vietnamplus

Vietnamese banks have been increasing their foreign ownership ratios to attract investment and improve financial strength.

The Government has decided to allow Vietcombank and Vietinbank to increase their charter capital by 10 trillion VND (434.8 million USD) in the first quarter of this year, Deputy Prime Minister Vuong Dinh Hue said last month.

The Vietnam Travel and Marketing Transport JSC (Vietravel) will trade 12.6 million shares on the Unlisted Public Company Market (UPCoM) on September 27, insiders have said.

The Ministry of Transport (MoT) has proposed the Government buy back foreign-owned shares in the Airport Corporation of Vietnam (ACV) to ensure airports are operated properly.

The Refrigeration Electrical Engineering Corporation (REE) has accepted Platinum Victory Pte Ltd’s bid to buy 31.3 million REE shares.

One year after failing to enter the Morgan Stanley Capital International (MSCI)’s watchlist for a market status upgrade, it is still uncertain if Vietnam will make it this year despite efforts made to improve market conditions.

The use of non-voting depository receipts (NVDRs) may help foreign investors buy more shares in Vietnamese companies without raising their power.

The State Securities Commission has approved Vinaconex’s request to lock its ceiling foreign ownership ratio at zero percent, saying the move complies with regulations.

Clear, transparent and efficient policies are needed to encourage more foreign investors to jump into the Vietnamese securities market if it is to reach its considerable potential.

Vincom Retail, the retail arm of the real estate conglomerate Vingroup, will debut on the Ho Chi Minh Stock Exchange on November 6.

A number of listed companies will discuss raising foreign ownership at their coming annual shareholder meetings.

Upgrading the stock market into an emerging market is one the Vietnamese Government’s key goals, with a view of attracting more foreign investment.

A proposal to establish the Viet kieu (Overseas Vietnamese) Bank in Vietnam has been raised at a meeting between Prime Minister Nguyen Xuan Phuc and OV experts last week.

Vietnamese shares fell further on September 7, driven down by dairy firm Vinamilk while foreign investors remained net sellers for six consecutive sessions.

Japanese drug manufacturer Taisho Group has acquired more than 21.3 million shares or a 24.4 percent stake in Hau Giang Pharmaceutical Joint Stock Company (DHG), the group announced on July 5.