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Minister Ho Duc Phuc affirmed: “It is necessary to regain confidence in individual bonds” |
This is the sharing of Finance Minister Ho Duc Phuc with the press about the corporate bond market.
Although the Government and management agencies have taken many actions and solutions, the “risky” peak of individual corporate bonds has not passed, or even exists. According to the Minister, the risks in the individual corporate bond market are already looming before 2022.
“It is a fact that we have to admit, that along with difficulties in cash flow liquidity, investor confidence in the individual corporate bond market declined sharply due to the cases of wrongdoing. handling and false rumors. The phenomenon of selling off or massively withdrawing money from investors has created great difficulties for many businesses, even production and business enterprises that are doing well,” the Minister said.
The Ministry of Finance is urgently submitting a draft amendment to Decree 65 related to individual corporate bonds, further information on this change, Minister Ho Duc Phuc said, the revised spirit of the new Decree is to extend the time limit. Some regulations have been applied to support both supply and demand sides in the individual corporate bond market.
In the longer term, we have directed functional units to review relevant regulations and discuss with other functional ministries and agencies to amend and supplement legal regulations on businesses and currency. At the same time, advise solutions to submit to competent authorities for consideration and adjustment of regulations to be more suitable with the reality of the market”, the Minister emphasized.
In addition, the Ministry of Finance has directed functional units to strengthen supervision, payment and inspection of issuers, service providers such as securities companies, auditing companies, etc. to this market. On the other hand, strengthen coordination with relevant ministries and branches to agree on solutions to support the individual bond market to develop synchronously, in a healthy and in the right direction. The ministry also requires issuers to strictly abide by the law on bonds and disclose information transparently so that investors can timely grasp and make reasonable investment decisions.
The Minister affirmed: “It is necessary to regain confidence in individual bonds; continue to promote information propaganda and training so that investors have a deep understanding before participating in this market, avoiding boycott psychology, corporate bond discrimination”.
Leaders of the Ministry of Finance also suggested strengthening and promoting the role of the State Bank and other regulatory agencies, especially focusing resources for business development, contributing to improving the capacity of the economy. .