The Ministry of Finance has drafted the Decree amending and supplementing some Articles of Decree 153/2020/ND-CP dated 31 December 2020 regulating offering, trading corporate bond issued under private placement domestically and offering corporate bond to the international market with several noticeable amendments:

- Amending regulations on bond issuance purposes in order to strengthen the responsibilities and obligations of issuers in using proceeds from bond issuance for the right purposes;

- Supplementing regulations on credit rating for some types of issued bonds in order to increase publicity, transparency and the quality of issued bonds, at the same time help the market get used to using credit rating results to assess the risks of bonds, to be in line with international practices and to limit risks for investors;

- Supplementing regulations on the Bondholder Representative to strengthen the supervision of the issuer's bond capital use purpose as well as the supervision of the implementation of other commitments of the issuer.

- How to identify professional investors that are allowed to invest and trade corporate bonds issued under private placement;

- Supplementing regulations to accelerate the establishment of a private corporate bond trading market at the Stock Exchange for professional investors to increase liquidity and at the same time enhance publicity, transparency, strengthen management and supervision for bonds put into trading on the secondary market;

- Amending a number of regulations on the time limit and content of information disclosure in order to overcome shortcomings of the past, and at the same time enhance the transparency of bond issuers and the use of bond issuance capital of the corporate.

VBMA has sent the Draft to seek members' opinions and will consolidate the comments from members to discuss and work with the Ministry of Finance in the near future.