The Ministry of Finance has conducted procedures to adjust and supplement the Government’s Decree 65 regarding the private issuance of corporate bonds, Deputy Minister Nguyen Duc Chi said at a government regular press conference in Hanoi on February 2.
The State Treasury has announced that it plans to raise 400 trillion VND (over 17 billion USD) worth of Government bonds via auctions on the Hanoi Stock Exchange (HNX) this year.
In response to lawmakers' invitation to comment, the Vietnam Chamber of Commerce and Industry (VCCI) has recently presented its views and suggestions to the draft amending Decree No 65 on corporate bonds.
The Ministry of Finance (MoF) is coordinating with ministries and agencies to assess the market situation to consider and submit to the Government amendments and supplements of a number of articles of the decree on offering and trading private placement corporate bonds in the domestic and foreign markets.
Credit growth reached about 13% this year as of December 27, Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu told a press conference in Hanoi on tasks for the banking sector next year.
The Ministry of Finance (MoF) has just submitted to the Government a draft decree on trading private placement of corporate bonds in the domestic market and offering bonds to international markets.
The Vietnamese financial market has experienced a bumpy road since the beginning of 2022 due to violations in the issuance and trading of corporate bonds by large corporations such as Tan Hoang Minh and Van Thinh Phat.
Vietnam suggested the Association of Southeast Asian Nations (ASEAN) and the ASEAN Inter-Parliamentary Assembly (AIPA) continue promoting solidarity, unity, self-reliance and innovation to consolidate the 10-member grouping’s centrality in addressing regional issues.
The Hanoi Stock Exchange (HNX) held 30 auctions of Government bonds (G-bonds) in October, with 55.66% of the total G-bonds on offer, worth 31.45 trillion VND (1.26 billion USD) sold.
Green bonds are an innovative tool for businesses to mobilise financing from the private sector such as banks, financial institutions, and especially foreign capital.
A huge amount of expired corporate bonds due for payment in the last months of this year and the whole of 2023 and 2024 are putting great pressure on issuers.
Ordinary citizens face higher risk in the current stock market environment, said the Ministry of Finance in a recent report released after a number of recent high-profile corporate scandals.
Banks must tighten their assessment control of corporate bond investments to avoid excessive risk and the misuse of funds raised by firms, experts said.
Vietnam needs to develop a strong domestic banking and financial sector that can provide a guaranteed funding base for decarbonising the oil economy, Kanni Wignaraja, UN Assistant Secretary-General and UNDP Regional Director for Asia and the Pacific, told the Vietnam News Agency (VNA) on July 29.
More than 17.57 trillion VND (748 million USD) was mobilised via 31 government bond (G-bond) auctions on the Hanoi Stock Exchange (HNX) in June, up 67.2% month-on-month.
Vietnamese businesses mobilised 24.1 trillion VND (1.08 billion USD) in May through one public and 34 private corporate bond issuances, according to the Vietnam Bond Market Association (VBMA).
National Assembly Chairman Vuong Dinh Hue urged for a healthy banking system in which domestic lenders act as key players and operate in a healthy, effective and transparent manner when assessing the answers of State Bank Governor Nguyen Thi Hong during the Q&A session of the 15th NA in Hanoi on June 9.
Total outstanding value of corporate bonds by the end of April 2022 reached 320.4 trillion VND (13.8 billion USD), accounting for a small proportion of the country’s total outstanding credit of 2.86 percent, according to the State Bank of Vietnam.
Vingroup has just announced its bond issuance on the international market in 2022, worth 525 million USD, with the offering price of 1 million USD a bond. The issue date is expected to be in May.
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