The Ministry of Industry and Trade (MoIT) has recently submitted to the Government draft amendments and supplements to a number of articles featured in Decree No. 83 with regard to the trading of petroleum products.

The highlight of the draft is to permit the participation of foreign-invested enterprises in the distribution of petroleum products. 

In line with the amendments, aside from petrol and oil traders that have been granted approval by the Prime Minister to transfer their shares to foreign investors, traders will have the right to transfer shares to foreign investors with sharesholding ratio not exceeding 35%.

According to the MoIT, the participation of foreign financers in some large state-owned enterprises which have been granted by the Prime Minister have served to contribute to significantly improving corporate governance, enhancing efficiency and competitiveness, especially with regard to increasing the corporate value through the value of their stocks.