Legal requirements for information disclosure and transparency in the equitization of SOEs
According to a government report, during 2011-15, 508 SOEs were equitized. The speed of equitizing big SOEs has been recognized to increase significantly over the past five years. As of October 2016, there remained 718 companies in which the State held 100% of charter capital. For the period from 2016 to 2020, the Government has identified enterprises where the State holds 100% of capital and dominant shares, including those operating in key industries, important geographical areas, and security and defense fields, applying high technologies, requiring large-scale investment and creating socio-economic impetus that lack investment from other sources.
Relaxation of the 49-percent cap on foreign ownership in Vietnamese public companies
As an effort to attract foreign investors in Vietnam’s stock market, on June 26, 2015, the Government issued Decree No. 60/2015/ND-CP amending some articles of Decree No. 58 (Decree No. 60). Among the changes, the most welcomed amendment is the relaxation of the overall 49-percent cap on foreign ownership in Vietnamese public companies. Decree No. 60 will be effective as of September 1, 2015.