Government mulls tightening foreign bank laws
At “Vietnam merger and acquisition (M&A) forum 2018”, Deputy Prime Minister Vuong Dinh Hue said that in restructuring of the country’s banking industry, the Government plans not to license any more wholly foreign-owned banks in Viet Nam, instead encouraging foreign banks to acquire domestic banks.
Besides not establishing more banks, M&As were also in line with the State Bank of Viet Nam’s policy of reducing the number of domestic banks and increasing their competitiveness, financial and banking expert Nguyen Tri Hieu said.
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