Decree amendments open paid TV firms to foreign investment

16:46 | 27/07/2018

Foreign investors may soon be able to buy shares at companies providing paid radio and television services.

decree amendments open paid tv firms to foreign investment
Decree amendments open paid TV firms to foreign investment, photo: Thoi bao Ngan hang

This is a new point under a draft amending and supplementing some articles of Government Decree 06/2016/NĐ-CP on management, provision and utilisation of radio and television services. This decree prescribes in detail the management of information content, quality, charges, provision and use of radio and television services in Vietnam as well as the reception and broadcast of foreign satellite television channels in Vietnam.

The Ministry of Information and Communications has been collecting opinions from state agencies and enterprises related to paid radio and television services, about the draft amending the decree before it is officially issued.

The other new point in the draft supplements the regulations promoting equitisation of enterprises providing paid radio and television services from now until 2020. The number of shares held by the State at such enterprises would vary, reported the Thoi bao Ngan hang (Banking Times).

According to the ministry, foreign investors interested in companies providing radio and television services and the equitisation of those enterprises would help their future development.

Therefore, besides meeting the requirements of the Press Law on licensing conditions, the amended decree would supplement regulations relating to other laws such as the Securities Law. For instance, according to the regulations, the percentage of foreign ownership at listed companies providing paid radio or television services would be applied under the Securities Law.

The new regulations would also specify conditions for foreign firms wishing to provide radio and television services in Vietnam. Of which, the firms must establish a legal entity in Vietnam according to regulations under this amended decree.

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