Improving the legal framework on cross-shareholding in Vietnamese conglomerates to control power and enhance market transparency

Abstract

This article analyzes cross-shareholding in Vietnamese economic conglomerates, which poses risks of power manipulation and lack of transparency. Current legal frameworks are fragmented and ineffective against indirect ownership. The author proposes legal reforms including clear legal definitions, broader regulatory scope, enhanced disclosure, and centralized inter-agency databases to improve oversight and ensure a transparent, competitive market environment.