*According to Decree No. 83/2023/ND-CP the Ministry of Finance of Vietnam shall, based on the mobilization need of the state budget, take charge and cooperate with the State Bank of Vietnam in developing a scheme to issue government bonds in the domestic market by freely convertible foreign currencies for presentation to the Prime Minister of Vietnam for assessment and approval. The scheme includes:
- Purposes;
- Quantity of bonds to be issued;
- Terms and conditions for bonds: term, face value; currency of bonds issued and currency used for payment of bonds; interest rate;
- Methods of issuing bonds (bidding, underwriting, or private placement);
- Bond buyers prescribed by this Decree and foreign exchange administration laws;
- Registration, depositing, and trading of bonds.
The Ministry of Finance of Vietnam shall, based on the scheme to issue foreign currency bonds approved by the Prime Minister of Vietnam, issue foreign currency bonds.
*Previously, according to Decree No. 95/2018/ND-CP the scheme included:
- Purposes;
- Quantity of bonds to be issued;
- Terms and conditions for bonds: term, face value; currency of bonds issued and currency used for payment of bonds; interest rate;
- Bond buyers;
- Registration, depositing, and trading of bonds;
The Ministry of Finance of Vietnam shall, based on the scheme to issue foreign currency bonds approved by the Prime Minister of Vietnam, issue foreign currency bonds by adopting the private placement method.
Therefore, Decree No. 83/2023/ND-CP has added 2 more methods of issuing foreign currency bonds, which are bidding and underwriting.
See more details in Decree No. 83/2023/ND-CP effective as of January 15, 2024.
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