ANOI – Vietnam will have to allow investors in the region to own up to 70% of local banks after the ASEAN Economic Community (AEC) comes into existence, instead of the current 30%.Can Van Luc, deputy general director of the Bank for Investment and Development of Vietnam (BIDV), said when the AEC takes shape at the end of this year, it will help liberalize financial services, making it easier for regional banks to provide financial services for ASEAN citizens.They would be free to transfer capital among ASEAN countries, develop capital markets, and integrate in payment systems and finance-banking infrastructure facilities, Luc said at a workshop in Hanoi City Wednesday on opportunities and challenges to Vietnamese enterprises after the establishment of the AEC.
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