Vietnam to remove 49% foreign ownership cap for payment firms

Vietnam to remove 49% foreign ownership cap for payment firms

The State Bank of Vietnam (SBV) has proposed to remove the 49 per cent foreign ownership limit in payment intermediary businesses, according to a statement on Monday.

SBV will not enlist the foreign ownership cap of 49 per cent in the final proposal to be submitted to the Prime Minister in June 2020, the country’s central bank said.

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