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Companies operating for at least one year allowed to issue bonds
Monday,  1/28/2019, 19:38 

Companies operating for at least one year allowed to issue bonds

The Saigon Times Daily

HCMC - Companies that have operated for at least one year upon the date of receiving their business registration certificates will be allowed to issue bonds, starting from February 1 this year, Sai Gon Giai Phong newspaper reported, citing the Government’s Decree No.163/2018/ND-CP on the issuance of corporate bonds.

Enterprises issuing bonds shall bear responsibility for taking out and making payments for loans, capital usage efficiency and paying off any liabilities.

Also, issuing companies will have to state their specific purpose for issuing bonds in bond issuance plans and provide full information to investors who register to buy these bonds, as required in the decree.

As for the issuance of green bonds, the capital generated from bond sales must be recorded and supervised; they must only be disbursed for environmental protection projects, as stated in approved bond issuance plans.

Apart from this decree taking effect in early February, over the next month, other new regulations related to import-export activities and operating a fund to support tourism development will take effect as well.

The fund to support local tourism development has charter capital of VND300 billion provided by the central State budget over three years from the foundation’s establishment, according to Decision No.49/2018/QD-TTg, which will take effect on February 1, on the establishment and approval of the operating regulations of the fund.

Functioning as a one-member limited company, the fund will be fully owned by the State, with the Ministry of Culture, Sports and Tourism as the representative owner.

It is in charge of managing and using capital from the State budget as well as capital contribution from enterprises, organizations and individuals at home and abroad, alongside receiving other legal sources.

As for Circular No.38/2018/TT-NHNN on importing goods to serve currency printing and minting activities at the State Bank of Vietnam (SBV), the portfolio of imported goods includes metallic tools to mint coins, papers, printing inks and anti-fraud foil. The circular, taking effect from February 8, is applicable to the SBV and its business partners, which are currency printing and mint operators, as well as relevant organizations and individuals.

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