HANOI, Feb. 18 (Xinhua) -- Vietnam's Ministry of Construction has proposed raising the foreign ownership cap in domestic airlines to 49 percent from the current 34 percent, local media VnExpress reported Wednesday, citing the ministry's draft decree on air transport.
The current ceiling has been seen as a barrier, making some Vietnamese carriers less attractive to foreign investors, said the report.
The draft also lowers equity requirements, setting a minimum of 300 billion Vietnamese dong (about 11.98 million U.S. dollars) for airlines operating up to 30 aircraft and 700 billion Vietnamese dong (about 26.95 million dollars) for those with larger fleets.
The ministry said the proposed changes aim to attract greater investment, facilitate market participation and strengthen the aviation authority's supervision. ■