Determinants of foreign investor's home - Bias in the Vietnam stock market

The fact that most listed companies on HOSE and HNX still maintain their foreign ownership limit (FOL) and the modest size of Vietnam’s firms and its stock market makes the issue of FOL yet critical barrier to FPI in Vietnam. Therefore, after five years since the promulgation of Decree 60/2015/ND-CP, MSC1 has not upgraded any sub-criterion in the criterion of‘Openness for foreign ownership’ for Vietnam’s stock market. According to MSCI’s assessments, ‘Foreign ownership limit level’, ‘Foreign room level’, and ‘Equal rights for foreign investors’ are still at the lowest level and have not been improved since 2015.