return icon Vietnamnet.vn

Foreign investors allowed 34 percent holding at Vietnamese airlines

The limit for foreign investors’ ownership in Vietnamese air transport businesses will be increased to 34 per cent from the current 30 per cent, according to a prime minister’s decree signed last week.

 

{keywords}

Foreign investors’ ownership limit inVietnamese air transport businesses will be increased to 34 per cent from30 per cent from January 1, 2020. — Photo thanhnien.vn

 

 

Decree 89/2019/NĐ–CP, revised from Decree 92/2016/NĐ–CP issued in 2016, includes regulations relating to conditional business lines in the fields of air transport and general aviation activities.

The decree also requires air transport businesses to have at least one Vietnamese individual or a Vietnamese legal entity holding the largest portion of charter capital.

In case the Vietnamese legal entity has foreign capital, the foreign capital shall not exceed 49 per cent of the legal entity’s charter capital.

According to the Ministry of Transport, which drafted the decree, the foreign investors' new ownership cap does not only ensure the attraction of foreign investment capital into enterprises but also the interests of domestic investors.

With the goal of reducing and simplifying business conditions and creating favourable conditions for investors to access the aviation market, the new decree regulates that an air transport business operating 10 aircraft or fewer will need to have a minimum capital, including ownership capital and loan, of VNĐ300 billion (US$12.9 million).

Businesses operating from 11 to 30 aircraft will need minimum capital of VNĐ600 billion, while those with more than 30 aircraft will be VNĐ700 billion.

In terms of airport service, the minimum capital for businesses is VNĐ100 billion, in which the foreign investor’s ownership will not exceed 30 per cent of the charter capital.

The decree will come into effect on January 1, 2020. — VNS

More airlines join market, create infrastructure bottlenecks

More airlines join market, create infrastructure bottlenecks

Runways, infrastructure and air traffic control activities cannot keep up with the pace of aviation market development.

Vietnam Airlines to launch Hanoi-Macau route next month

Vietnam Airlines to launch Hanoi-Macau route next month

National flag carrier Vietnam Airlines has announced that it will open a new air route connecting Hanoi and Macau (China) on December 15, 2019.

MORE NEWS

Vietnamese GDP set to rank third in ASEAN by 2027

Vietnam’s gross domestic product (GDP) in ASEAN is expected to expand considerably over the next five years, with its rankings rising from sixth this year to third by 2027, according to the latest forecast made by the IMF.

Attractive sites in HCM City vandalised with graffiti

Multiple sites in HCM City, including bus stops, metro trains and the newly opened Thu Thiem 2 Bridge, have been vandalised with graffiti.

FDI poured into real estate sector doubles

Real estate sector attracted 3.5 billion USD in foreign direct investment (FDI) the first nine months of this year, accounting for mearly 19% of total FDI that the country lured in the period, coming second among sectors in terms of FDI attraction.

Gia Lai province has new Chairman

The Government has confirmed Mr. Truong Hai Long as new Chairman of the Gia Lai provincial People's Committee.

Investors dump shares in panic, VN-Index drops nearly 46 points

The VN-Index officially lost the 1,110-point mark, retreating to the bottom made in February 2021 in the first trading session of October on October 3.

First Vietnam monkeypox case returns from Dubai

The Ministry of Health confirmed on October 3 that a woman returning from Dubai has infected with the monkeypox virus, the first case recorded in Vietnam so far.

Coca-Cola injects US$136 million into Long An plant

Coca-Cola Beverages Vietnam Co., Ltd is poised to start development on a beverage factory with total investment capital exceeding US$136 million in Phu An Thanh Industrial Park of Ben Luc district in the southern province of Long An.

List of 48 websites showing signs of law violation announced

The Ministry of Information and Communications (MIC)’ Authority of Broadcasting and Electronic Information has announced a list of 48 websites showing signs of law violations as of the end of the third quarter.

Secretary of Hai Duong Provincial Party Committee expelled from Party

The Party Central Committee decided to expel Secretary of the Hai Duong Provincial Party Committee and Chairman of the provincial People’s Council Pham Xuan Thang from the Party during the first working day of its sixth plenum in Hanoi on October 3.

VIETNAM NEWS HEADLINES OCTOBER 3

Hanoi seeks UNESCO's recognition for Mo Muong

Seven must-visit destinations in Vietnam for coffee connoisseur

From the 19th century until now, coffee has taken a journey to become an irreplaceable part of Vietnamese culture and life.

Petrol prices fall to over a year record low of VND21,000/litre

Petrol prices tumbled to the lowest level in more than a year in the latest adjustments made on October 3 by the Ministries of Industry and Trade and the Ministry of Finance.

Foreign ODA and concessional loans reach 15.5% of target

Disbursement of foreign official development assistance (ODA) and concessional loans has been slow, achieving only 15.48% of the target, the Ministry of Finance reported.

More foreign visitors to HCMC signals thriving tourist season

Roughly 100 French, American, German tourists traveled to Ho Chi Minh City on French Le Laperouse yacht of Ponant after the last visit in mid-November 2019 signaling a thriving tourist season.

First monkeypox infection detected in HCM City

The Ho Chi Minh City Department of Health has just announced the first reported case of monkeypox in Vietnam.
back_to_top