Recently, the Government issued Decree 83/2023/ND-CP amending Decree 95/2018/ND-CP on regulations regarding the issuance, registration, depository, listing, and trading of government debt instruments on the securities market (‘Decree 83‘).

Now, let’s delve into the details with Bizlawyer!

Decree 83/2023/ND-CP has amended the regulations on the issuance of government bonds individually as follows:

1. Method of individual issuance: Direct issuance of government bonds to each purchasing entity or through authorized distributors, including commercial banks and branches of foreign banks.
2. Development of issuance plans: The State Treasury must develop detailed plans encompassing purchasing entities, issuance volumes, terms, interest rates, anticipated issuance periods, and the envisaged form of individual issuance.
3. Approval of plans: The Ministry of Finance approves the issuance plans after they have been reported.
4. Implementation of issuance: The State Treasury executes the issuance based on the approved plans. In the case of selecting authorized distributors, this process is regulated through signed contracts.
5. Conditions for becoming an authorized distributor:

1. a) Being commercial banks, branches of foreign banks established and operating legally in Vietnam, with the function of providing bond issuance agent services as stipulated in the Law on Credit Institutions and the guidance of the State Bank of Vietnam;
2. b) Having an operational network capable of distributing and settling government bonds;
3. c) Having a distribution and payment organization plan meeting the issuer’s requirements for each issuance.

The above constitutes the entire content of the newsletter: New regulations on the individual issuance of government bonds.

Decree 83 takes effect from January 15, 2024.

This newsletter is intended solely to inform about newly enacted legal regulations and should not be construed as advice or applied to specific cases.

We hope this information proves helpful to our esteemed readers.