State firm to issue US$3.7 billion of special bonds

The State Bank Governor gave the Vietnam Asset Management Company (VAMC) the green light to issue up to VND80 trillion (US$3.7 billion) worth of special bonds in 2015.

The approval, confirmed in Document 1264/NHNN-TTGSNH, allows the firm to provide bonds with a maximum 5-year term.

Established in 2013, the VAMC, a one-member limited company, is a State tool for managing bad debt. Accordingly, it purchases bad debt from banks, recovers and restructures the debt, and sells collateral. It also adjusts loan conditions and converts debt into equity.

The company is permitted to consult and act as a broker to trade debts and assets, make financial investments, purchase sales, auction off assets, and provide guarantees for businesses and individuals to access bank loans.

The VAMC’s bonds are only used to buy bad debt from commercial banks and cannot be traded on the stock market.

Source: VNA

Other news

Most view

At the forum (Photo: SGGP)

Ben Tre Province facilitates agriculture investors

A forum held in the Mekong Delta province of Ben Tre yesterday had met to promote investment in agriculture with the participation of the provincial Party Secretary Vo Thanh Hao, Chairman of People’s Committee Cao Van Trong and 250 enterprises.


VNPT & SeABank cooperate to enhance connections

The Vietnam Posts and Telecommunications Group (VNPT) and SeABank just co-signed cooperation agreement, aiming to develop the two sides’ economic, business and investment potential.


HCMC focuses on safe pig breeding chain

The HCM City department of agriculture & rural development has just held conference about the sustainable pig breeding and safe pork production market in HCMC.

Self - introduction

VNPT targets to be leading digital service provider in Vietnam

The grand opening ceremony of the VNPT-Information Technology Company (VNPT-IT), a new member of the Vietnam Posts and Telecommunications Group (VNPT), was held yesterday in Hanoi. With thousands of IT engineers and the focus on developing state-of-the-art technological products related to Artificial Intelligence (AI), Bigdata, and Blockchain, the new company is considered the main force to help VNPT fulfill the goal of becoming a leading digital service provider in Vietnam and an important Digital Hub of the neighborhood as well as the world.

Stock market

STK to issue 10.8million shares

The shareholders of Century Synthetic Fiber Corp (code: STK) have approved plan to issue 10.8 million shares.