VN banks more open for EU investors under newly-approved trade pact
Hanoi, Feb. 16 -- Investors from the EU will have opportunities to own higher stakes in Vietnamese banks than those from other countries under Vi?t Nam's commitments in the EU-Vietnam Free Trade Agreement (EVFTA).
Under the EVFTA signed this week by the European Parliament , Vietnam and the EU have committed to facilitate the investment environment for businesses of the two sides, in which the first will allow the latter's investors to enjoy an exception - holding up to 49 percent charter capital at two Vietnamese banks.
According to Vietnam's existing legal regulations, the maximum rate of foreign ownership in a commercial bank is capped at only 30 percent.
The offer will apply only to joint stock banks, excluding BIDV, Vietinbank, Vi...
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