Vietnam removes foreign ownership caps on most listed firms

Hanoi

VIETNAM has approved removing foreign ownership caps on most listed companies, its finance minister confirmed on Friday, scrapping a 49 per cent limit in one of its most liberal economic reforms yet.

The communist government is stepping up reforms to the US$184 billion economy after years of delay that have frustrated foreign investors keen to tap the potential of its private sector, with future Pacific and European Union free trade pacts adding to the allure.