3 July, 2015
On 26 June 2015, the Government of Vietnam passed Decree No. 60/2015/ND-CP (“Decree 60”).
- Decree 60 amends and supplements several articles of Decree No. 58/2012/ND-CP dated 20 July 2012 providing details and implementation guidelines on several articles of the Law on Securities and Amended Law on Securities (“Decree 58”).
- It comes into force on 1 September 2015, and will replace the amended articles of Decree 58 and supersede all provisions under Decision No. 55/2009/QD-TTg dated 15 April 2009 of the Prime Minister on percentage participation of foreign investors in securities market of Vietnam (“Decision 55”).
|Types of Securities||Existing (Decision 55)||From 1 Sept 2015 (Decree 60)|
|Shares in a public joint stock company||49% (except as otherwise provided in the specific regulations)||Unlimited, except for the following circumstances:
|Certificates of a public investment fund||49%||Unlimited, except for other percentage as provided in the charter of the public investment fund|
|Shares of public securities investment companies||49%||Unlimited|
David Lim, Partner, ZICOlaw
Lien Nguyen, ZICOlaw