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Sunday, June 16, 2024

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Secondary market needs tighter control

In expressing his concerns about the corporate bond market, even when Decree 65/2022 on offering and transacting corporate bonds issued via private placement is in full enforcement, Dr. Le Dat Chi, Dean of the Finance Faculty at the University of Economics HCMC, asserts that if the key problems are not properly solved, greater consequences would be unavoidable. Identifying the magic wand The Saigon Times: At a meeting in late November, the Ministry of Finance asserted its viewpoint over the full enactment of Decree 65/2022, under which regulations on professional investors, credit ratings for bond issuers, and shorter periods for bond distribution in each issue will apply from January 1, 2024 after being put on hold under Decree 08/2023. What are your points on this issue? – Dr. Le Dat Chi: First, it is necessary to pinpoint inadequacies on the corporate bond market in recent times. These include scant management of dossiers on corporate bond issues by the State Securities Commission or the Stock Exchange. The Stock Exchange only offers a template, caring little about what enterprises will do with bond issues. It is no wonder why a certain enterprise with charter capital of billions of Vietnam dong could issue bonds […]
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