VIETNAM

Permission Sought for Fund Sales in U.S.: An investment fund designed to tap into the economic potential of Vietnam asked permission last week to sell shares on the New York Stock Exchange. First Vietnam Fund Inc. filed with the Securities and Exchange Commission to register a nominal 5,000 shares to be sold at an estimated $12 a share. Because the United States has a trade and investment embargo against communist Vietnam, the fund said it will initially invest in multinational companies doing business with Vietnam. Once the embargo is lifted, it said, it will invest directly in Vietnam-based companies.