Vietnam plans to raise the cap on foreign ownership in airlines.
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According to Reuters, Vietnam is considering raising the foreign ownership cap on its domestic airlines from 34% to 49%.
Vietnamese media reports that this move aims to help airlines attract more investment from their foreign partners, strengthen their financial position, and gain access to modern technology and expertise in management and operations.
The draft report states that raising the foreign ownership cap also aligns with commitments made under the free trade agreements Vietnam has signed.
Due to soaring fuel costs caused by the Middle East wars, Vietnamese airlines have been forced to scale back operations. The Vietnamese government stated that airlines will "further adjust operations to optimize costs," but did not elaborate.
