The Vietnam State Securities Commission published an update on a government meeting chaired by Deputy Prime Minister Ho Duc Phoc on a draft decree amending Decree No. 155/2020/ND-CP, which sets out detailed provisions for parts of the Securities Law. The draft would revise rules spanning maximum foreign ownership ratios, clearing and settlement arrangements and trading accounts, with the Ministry of Finance tasked with refining the text for onward submission. At the meeting, the Deputy Prime Minister stressed that the amendments should safeguard the right to do business and enable sustainable enterprise development, and that stock market upgrading should rest on the underlying strength of the economy and businesses. He provided input on maximum foreign ownership, the role of commercial banks as clearing members in the cash equities market, a central counterparty mechanism, financial institutions providing bond guarantees and account arrangements; the Ministry of Finance reported that the draft was prepared under expedited procedures and that 23 of 24 government members voted to approve it. The Ministry of Finance has also incorporated feedback on using the national population database for securities-related administrative procedures and on transitional provisions clarifying that, once the decree takes effect, companies will no longer be able to self-adjust the maximum foreign ownership ratio by shareholder meeting resolution. The ministry will complete technical edits and coordinate with the Government Office to carry out the required submission procedures.

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