Foreign companies allowed to purchase shares of joint stock banks
(03/22/2004 -- 17:09GMT+7)
Ha Noi, Mar. 22 (VNA) - Wholly foreign-invested companies operating in Viet Nam will be permitted to purchase shares of joint stock banks, said an official circular recently issued by the State Bank of Viet Nam.
The circular stated that foreign-invested businesses are able to buy and hold a maximum of 30 per cent of joint stock banks' statutory capital.
Also according to the circular, overseas Vietnamese, referred to as foreign investors, can buy shares of joint stock commercial banks only when they are allowed by the State Bank of Viet Nam.
