Illustrative image (Photo: Internet) Hanoi (VNA) – Prime Minister Pham MinhChinh has requested the Minister of Finance to submit measures ensuring thehealthy, transparent, safe and effective operations of corporate bond market tohim before December 20.
Signed by the PM on December 13, the dispatch said inaccordance with the Resolution No.156/NQ-CP dated December 6, 2022 on theNovember Government meeting, the Finance Minister must promptly take timely andeffective solutions to stabilise and promote the development of corporate bondmarket, thus ensuring legitimate rights and interests of investors in line withregulations.
TheFinance Ministry is tasked with promptly reviewing solvency and paymentcapacity of corporate bond issuers, especially bonds due for payment in 2022and 2023; proactively take specific and effective measures to handle issueswithin its authority to ensure the absolute safety and security of financialand monetary markets.
Itmust direct issuers to fulfil the obligation to repay principal and interestas committed. In case of difficulties, they must actively negotiate withinvestors to restructure bond debts, interest rates and payment terms viaharmonious, reasonable and effective measures in the spirit of harmonisingbenefits and sharing risks in accordance with existing laws.
Theministry was assigned to further enhance its State management authority on theissuance of corporate bonds, especially fighting negative behaviours, policy profiteeringand other unhealthy activities to ensure the healthy, safe, open, transparentand sustainable operations of the market.
Itmust promptly propose amendments and supplements to legal documents related tothe issuance of corporate bonds, particularly private placement at home andoffering of corporate bonds to international market./.
