Circular eases foreign ownership limit

In particular, under Decree 60, foreign businesses can hold a 100 percent stake in most sectors and enterprises.

Decree 60 will not only have a positive impact on the development of the securities market but will also accelerate the equitisation process, which the government is determined to hasten. The recently issued Circular 123 provides detailed guidelines on the procedures that foreign investors must undertake to operate in the country’s stock exchange and is expected to aid in the implementation of Decree 60.