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Monday, June 17, 2024

Getting more FDI firms on stock market

By Luu Minh Sang

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After Decree 38/2003 expired, the issue of foreign direct investment (FDI) enterprises listing their shares on the stock market is no longer mentioned in subsequent regulations. Long years of waiting The listing of FDI enterprises on the stock market is not a new story. More than 20 years ago, the Government issued Decree 38/2003/ND-CP, allowing some FDI enterprises to list their shares on the stock exchange after converting from limited liability companies to joint-stock concerns. As a result, 10 pioneering FDI enterprises were listed between 2003 and 2008. However, this process did not work as well as expected. It was not until 2017 that another FDI enterprise, Siam Brothers Vietnam Joint Stock Company, was listed. To date, only 11 FDI companies have managed to get listed. Among these, only eight are currently listed, with three companies being delisted due to losses (two companies shifted to trading on the UpCom market, and one withdrew from the market). Since 2017, no new FDI firms have been listed on the stock exchange. There are various reasons, but the main issue remains the absence of a supportive legal mechanism. After Decree 38/2003 expired, the issue of FDI enterprises listing on the stock market was […]
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