Prime Minister directs healthy, transparent corporate bond market
Prime Minister Pham Minh Chinh has requested the Minister of Finance to submit measures ensuring the healthy, transparent, safe and effective operations of corporate bond market to him before December 20, 2022.
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Signed by the Prime Minister on December 13, the dispatch said in accordance with the Resolution No.156/NQ-CP dated December 6, 2022, according to the November Government meeting, the Finance Minister must promptly take timely and effective solutions to stabilise and promote the development of corporate bond market, thus ensuring legitimate rights and interests of investors in line with regulations.
The Finance Ministry is tasked with promptly reviewing solvency and payment capacity of corporate bond issuers, especially bonds due for payment in 2022 and 2023; proactively take specific and effective measures to handle issues within its authority to ensure the absolute safety and security of financial and monetary markets.
It must direct issuers to fulfil the obligation to repay principal and interest as committed. In case of difficulties, they must actively negotiate with investors to restructure bond debts, interest rates and payment terms via harmonious, reasonable and effective measures in the spirit of harmonising benefits and sharing risks in accordance with existing laws.
The Ministry was assigned to further enhance its State management authority on the issuance of corporate bonds, especially fighting negative behaviours, policy profiteering and other unhealthy activities to ensure the healthy, safe, open, transparent and sustainable operations of the market.
It must promptly propose amendments and supplements to legal documents related to the issuance of corporate bonds, particularly private placement at home and offering of corporate bonds to international market.
(Source: VNA)
