, Columnist
Vietnam Should Decide How Open It Is
The government wants to welcome big foreign funds; the funds want clarity.
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Hanoi Beer Alcohol & Beverage JSC, or Habeco, filed last week for a listing on the Ho Chi Minh Stock Exchange as Vietnam tries to get more companies out of government hands.
Four days later, state-controlled Vietnam Dairy Products JSC, known as Vinamilk, made a secondary offer to increase foreign ownership. The deal missed its target and Singapore's Fraser & Neave Ltd., another beverage company, bought two-thirds of the shares.