As one of the market stabilizing and inflation fighting measures to be taken as defined in Government Office Notice No. 63/TB-VPCP of March 11, the Government has assigned the Finance Minister to direct the State Capital Investment Corporation (SCIC) to pouring cash into buying stocks so as to stabilize and shore up the stock market. The Finance Minister and the SCIC Chairman would decide on stock volumes and portfolio as well as points of time and mode of stock purchasing by SCIC in order to achieve the long-term objectives of enterprises and the market.
The Government has given an in-principle approval to the proposal that foreign investors be allowed to purchase up to 40% of shares in unlisted public companies, with some exceptions for sectors and domains subject to separate regulations of the Government.
The State Bank of Vietnam would clearly disclose the schedule of providing support funds to maintain the liquidity of commercial bank transactions and pursue a positive deposit interest rate policy suitable to the actual market situation, and constantly analyze and assess market practices and interest rate trends in order to take specific measures to strictly control and gradually reduce deposit interest rates to reasonable levels.-