|
New regulations give foreigners more flexibility in stock market
The stock market is now wide open to foreign investors while, at the same time, ensuring them of full transparency following new regulations issued by the Ministry of Finance.
Under the new rules, foreigners are now permitted to buy and sell shares, bonds and assorted securities, whether listed or unlisted, as well as participating in bidding for securities or stakes of equitising enterprises and investing in securities funds and joint-stock enterprises at a fixed rate.
The new regulations also give every foreign investor the right to open a bank account in Vietnamese dong in order to indirectly invest in Vietnam . The banks in which their funds are deposited must, however be licensed to deal with foreign exchange.
Experts said that the new regulations provide convenient conditions for foreign investors wishing to invest in the nation’s stock markets.
The regulations received support from the State Securities Commission, on the grounds that they enable the Government to further mobilise all sources of investment, both direct and indirect, while securing a database to effectively manage and handle the balance of payments for the macro economy.
This will help to meet the demand for the sustainable development of the stock market and the national economy, said the watchdog.
Preliminary statistics revealed that some 12,700 foreign investor accounts deal with the nation’s stock market, the majority of them individuals, as well as several hundred accounts belonging to foreign organisations.
VNA
|
