Vietnam Accelerates IPOs, Enables Higher Foreign Stock Ownership

Vietnam is rolling out a series of regulatory reforms aimed at attracting more overseas investors into its stock market, which has outperformed regional peers this year.

A newly-issued decree eliminates the ability of public companies to unilaterally impose foreign ownership limits that are lower than those allowed by domestic law or international agreements, according to a statement on the government’s website. The statement was posted late on Friday and took effect on Thursday, and is likely to reduce inconsistencies and improve transparency for foreign investors.

Vietnam currently allows foreign ownership of up to 100% of a firm in some sectors, ...