Press release on issuance of Circular No. 10/2022/TT-NHNN
Hanoi, July 29, 2022 – The Governor of the State Bank of Vietnam (SBV) has issued Circular No. 10/2022/TT-NHNN providing guidance for the forex management regarding the issuances of international corporate bonds without Government guarantees.
The Circular is composed of four (04) Chapters, 14 Articles providing for the sequences, procedures of registration, the registration for changes in an issuance of international corporate bonds without Government guarantees.
The administrative procedures stipulated in the Circular have been formulated on the basis of:
(i) Inheriting and clarifying the currently applicable procedures in order to increase the effectiveness and not to arise any obstacles;
(ii) Abolishing the regulations on the procedures for appraising the issuances of international bonds by state-owned commercial banks;
(iii) Supplementing new substances simplifying a number of applicable administrative procedures (supplementing the method of implementing the administrative procedures on the electronic platform; stipulating the cases in which there is no need to implement the procedure of registering a change in the issuance of international bonds; simplifying the requirements for the relevant dossiers).
The Circular contributes to the improvement of the legal framework for borrowing and paying oversea debts by the corporates without Government guarantees, reflecting a progressive reform in the administrative procedures (simplification, application of IT to the provision of public services), enabling businesses to mobilize capital resources for their production and business operations through the issuances of international bonds.
The Circular takes effect from September 15, 2022.
Translated by Le Hang