WTO And TPP – A Comparison of Vietnam’s Commitments Regarding Investment In Financial Services

The table below tries to compare the existing commitments of Vietnam under WTO Agreement with the commitments under TPP for financial services. This post is contributed by Tran Thi Thu Thao, a VILAF associate. Pdf version of the table can be downloaded here.

Notes:

  • No limitation means no limits on national treatments in terms of foreign ownership, form of investment or other restriction.
  • Branch is generally not allowed unless otherwise indicated.
  • Share acquisition is generally allowed with no foreign ownership limitation for committed sectors and sub-sectors unless otherwise indicated.
  • Underlined words indicate new commitment under TPP. 

 

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Written by Nguyen Quang Vu On In , , ,

New guidance on foreign ownership limits in public companies in Vietnam

On 26 June 2015, the Government just issued Decree 60/2015 providing some amendments to the implementing regulations of the Securities Law 2006. Among the amendments, the most notable ones are about changes to foreign ownership limits in a public company in Vietnam. From 1 September 2015, these changes are as follows:

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Bond trustees in Vietnam

In other markets, a bond trustee acting for the benefits the bondholders is intended to make it easier for numerous bondholders to take collective action against the bond issuer especially in case of default by the bond issuer. In the U.S, a bond trustee is subject to duties under the Trustee Indenture Act of 1939.

In Vietnam, a representative of bondholders (đại diện người sở hữu trái phiếu) is the nearest concept to bond trustee in other markets. However, there are only a few provisions under Vietnamese law about a representative of bondholders:

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Written by Nguyen Quang Vu On In ,