Vietnam has raised the foreign ownership cap to 49% from 30% for select banks that have absorbed struggling lenders, aiming to accelerate financial sector restructuring. The decree took effect Wednesday, the government said. Analysts said the move will help banks attract foreign investment and strategic partners while encouraging overseas involvement in restructuring weak banks. In January, the State Bank of Vietnam transferred GPBank to VPBank and DongA Bank to HDBank as part of its overhaul of distressed lenders. GPBank and DongA Bank are now fully owned by their respective acquirers. Last year, Vietcombank took over Ocean Bank, while Military Commercial Joint Stock Bank absorbed Construction Bank. The move is expected to boost investor confidence in Vietnam’s banking sector.