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Saturday, June 22, 2024

Time for tighter control

By Khanh Nguyen

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The stability on the corporate bond market made possible owing to Decree 08/2023 that puts on hold some articles of Decree 65/2022 on offering and transacting bonds issued under private placement gives way to the belief that it is the right time now to fully implement Decree 65. If the full enforcement of Decree 65 is delayed again, a mindset of incompliance among certain enterprises may emerge. Concerns over bonds to become due in 2024 The amount of corporate bonds reaching maturity will peak in 2024 with nearly VND300 trillion in total value before decreasing somewhat to VND270 trillion in 2025, according to data from Yuanta Securities Vietnam. Such overwhelming amounts seem to have been the main excuse taken by some to propose further delaying the enforcement of Decree 65 beyond the date of December 31, 2023 as specified in Decree 08. With the volume of bonds worth VND154.8 trillion in the real estate sector coming due in 2024 as estimated by FiinGroup, it is understandable why many real estate firms represented by the HCMC Real Estate Association (HoREA) have since early October proposed extending Decree 08 through 2024. However, at a meeting in late November, the Ministry of Finance […]
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