Prime Minister Nguyen Tan Dung has decided to continue the issuance of international bonds under the name of the Socialist Republic of Vietnam.

Dung on Nov. 2 assigned the Ministry of Finance to set a time period and interest rate for the bonds, which should not exceed 7 percent for a 10-year bond.

He assigned the Ministry of Planning and Investment to work with the Ministry of Finance to draw up a list of projects that could benefit from the bond revenues.

The project list must be submitted to the Prime Minister for approval before the issue date of the bonds, which would occur sometime between late this year and early next year.

The Government will use 700 million VND (38,000 USD) from the money raised from the bonds to pay for the expenses incurred to issue the bonds.

The paperwork to bring foreign currency-denominated bonds issued on the local market earlier this year to the trading floors is in the final phase, said Nguyen Thi Hoang Lan, Deputy Director of the Hanoi Stock Exchange.

The remaining problems included bond deposits and the opening of foreign currency accounts in line with the central bank’s requirements, she said, adding that it was the task of the securities companies to clarify the legalities of their currency sources if they wanted to open a foreign currency account for brand trading.

In the first phase of foreign currency-denominated bond auctions, opened in March of this year, the Government raised 230.2 million USD. The bonds were verified into one-year, two-year and three-year terms./.