THE GOVERNMENT
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No. 238/2005/QD-TTg
Hanoi, September 29, 2005
 
DECISION
ON PERCENTAGE OF PARTICIPATION OF FOREIGN PARTIES IN SECURITIES MARKET OF VIETNAM
THE PRIME MINISTER
Pursuant to the Law on the Organization of the Government dated 25 December 2001;
Pursuant to Decree 144/2003/ND-CP of the Government dated 28 November 2003 on Securities and Securities Market;
Pursuant to Decree 187/2004/ND-CP of the Government dated 16 November 2004 on Conversion of State Owned Capital into Shareholding Companies;
Pursuant to Decree 38/2003/ND-CP of the Government dated 15 April 2003 on Conversion of a Number of Foreign Invested Enterprises into Shareholding Companies;
Pursuant to Decision 36/2003/QD-TTg of the Prime Minister dated 11 March 2003 issuing Regulations on Capital Contribution and Purchase of Shares by Foreign Investors in Vietnamese Enterprises;

>> See also:  Tighten the supervision securities transactions

On the proposal of the Minister of Finance;
DECIDES:
Article 1. Foreign organizations and individuals selling and purchasing securities on the securities market of Vietnam may hold:
(a) A maximum of 49% of the total shares listed or registered for trading by any one organization which has been listed or has registered for trading in the Securities Trading Centre. With respect to listed organizations or organizations which have registered for trading being foreign invested enterprises which have been converted into operating in the form of a shareholding company in accordance with Decree 38/2003/ND-CP dated 15 April 2003, the total listed shares shall be the quantity of shares issued to the public in accordance with the plan approved by the competent body.
(b) A maximum of 49% of the total investment fund certificates which have been listed or registered for trading of a securities investment fund.
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