APEC has laid the foundation for Vietnam to join bigger playgrounds with higher level of commitments, including the World Trade Organization (WTO) and other free trade agreements (FTAs), the government portal reported.

The project is part of the revised master plan for Hanoi’s socio-economic development until 2020, with vision to 2030.

Hanoi has attracted a total of US$13.25 billion in foreign direct investment (FDI) in the 2016 – 2018 period, 2.12 times that in the 2011 – 2015 period and up 48.6% from the 1986 – 2015 period.

With a par value of VND10,000 (US$0.43), the total value of the share amount in subject is VND23.41 trillion (US$1 billion).

By completing the move, Vietcombank is no longer a major shareholder in both banks in subject and meets the banking regulation on cross-holding limit, raising a combined net profit of about VND900 billion (US$38.4 million).