Vietnam Fumbles For New Plan To Attract (And Repel) Foreign Funds

Vietnam was supposed to raise the cap this year on foreign investment in listed companies. Now it’s supposed to do that toward the end of this year or maybe next, an obvious disappointment to offshore investors. Approval of a hike from today’s 49% foreign ownership cap to 60% in most stocks requires a series of sticky legal changes ahead of a2016 Communist Party plenum, where leaders are supposed to appear strong and in sync. Some leaders don’t want eager foreign funds to control Vietnam�...