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Economy

Vietnam to remove 49% foreign ownership cap on listed companies

Banking and aviation limits also expected to be raised, but not above 50%

New buildings rise out of the landscape in Ho Chi Minh City, Vietnam's commercial capital.   © Getty Images

HO CHI MINH CITY -- Vietnam plans to remove restrictions on foreign ownership of state-owned and listed companies by the end of 2019, as Hanoi looks to open its capital-hungry economy further in order to sustain rapid growth.

The Finance Ministry is drafting an overhaul for the nation's securities law, the first major amendment since 2010.

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