Hanoi’s foreign ownership cap proposal needs further review

The SBV said the draft regulation needs to be further considered to limit the risk of violating obligations in Vietnam’s trade and investment protection agreements. — Vietnam News

HANOI: The State Bank of Vietnam (SBV) is concerned that a Planning and Investment Ministry (MPI) proposal to remove the foreign ownership cap and foreign investment conditions of banks or credit institutions headquartered in the country’s international financial centres, could pose risks.

The concern was raised after the MPI made public a draft resolution on the establishment of international financial centres in Vietnam, asking for comments.