Vietnam to open foreign ownership rules
Bureaucrats and politicians are weaning themselves from being major players in the Vietnamese economy. One way this is achieved is through the relaxation of foreign ownership limts as well as limiting the economic activities of state owned or controlled corporations.
With this landscape, many opportunities are created for leaders in the private sector but only a handful are able to realize the benefits in the outset. The long term rewards are received as these enterprises increase in scale, ability and objectives to prosper under these new rules. There are already a number of businesses that are active in both restructuring and acquisitions of new businesses.
These activities include that of Masan Group, which is one of Vietnam's largest privately run corporations with interest in many markets such as real estate. agriculture, and consumer goods. It had recently purchased 40% shareholdings in Proconco from Prudential for USD96 million. Vingroup is another firm with a sale worth USD200 million of Vingroup Retail to Warburg Pincus.