PM Urges FDI Firms to Sell Shares to Local Investors

PM Urges FDI Firms to Sell Shares to Local Investors

Vietnam Prime Minister Phan Van Khai has instructed the Ministry of Planning & Investment (MPI) to select more Foreign Direct Investment (FDI) businesses to be allowed to sell shares to local investors.

The MPI will be responsible for devising a project to extend the period in which FDI enterprises can register for such move, which will ensure basic principles to be applied in the trial application for a model of foreign-invested holding companies in Vietnam.

The project must be submitted to the PM in the second quarter of this year.

The PM also urged the MPI to continue its work in order to expand investment areas and diversify suitable forms of foreign investment.

In addition, the PM has asked the Finance Ministry to coordinate with other relevant ministries and branches to issue legal documents guiding FDI joint stock companies on how to list their shares on Vietnam’s securities markets.

Legal documents should also be issued on management regulations and policies to encourage the operation of investment funds in Vietnam.

The Government has so far allowed six FDI businesses in the country to sell shares.

Vietnam attracted 109 new FDI projects with combined pledged investment of US$1.31 billion in the first quarter of this year, raising the total number of FDI projects in the country to 5,262 capitalized at US$47.72 billion.

Thanh Nien Daily