Message from government about resolving corporate bond issue
The Government has issued Resolution 143/NQ-CP of its regular meeting in October.
The Government has issued Resolution 143/NQ-CP of its regular meeting in October.
It requires the Ministry of Finance to coordinate with agencies and localities to implement Decree 65 that amends and supplements a number of articles in Decree 153 on private placement of bonds in the domestic market and their trading and selling corporate bonds in the international market.
The ministry is tasked with providing timely solutions to resolve difficulties related to corporate bonds in the short term and promote the healthy development of the bond market in the medium and long terms.
The State Bank of Vietnam is required to work closely with agencies and localities in administering monetary policy in a prudent, firm, proactive, flexible, and efficient manner together with fiscal and other macroeconomic policies.
The central bank also needs to ensure there is sufficient capital for the economy, especially the manufacturing sector and other priority areas and industries driving economic growth, strictly control lending to potentially risky areas and have appropriate solutions to ensure banks meet the capital needs of traders who import petroleum and coal to address difficulties and achieve energy security.
Besides, it needs to strengthen communication and dissemination of information to consolidate market confidence and investors, the public and businesses’ trust to stabilise the monetary market.
Speaking to the media recently, Minister of Finance Ho Duc Phoc said safeguarding the interests of investors is always taken seriously.
A number of securities companies that committed violations are being investigated to keep the market healthy, he said.
His ministry has worked with bond issuers to safeguard the interests of investors, and they have promised to pay fully when their bonds mature, he said.
“We will actively monitor and safeguard investors’ interests."
The government and the Ministry of Finance are acting quickly to ensure investors get their money back safely, including by freezing the accounts of violators to ensure repayment to investors. — VNS
