CATEGORIES

© Copyright 2004; Hanoitimes - Economic and Urban Newspaper;

The tribune of Hanoi People’s Committee

Publication Permit: 29/GP-CBC

Editor - in - Chief: Nguyen Thanh Loi

Managing Editor: Ta Thu Giang

Email : thugiang@hanoitimes.vn

Head Office: 21 Huynh Thuc Khang Street, Dong Da District, Hanoi

Branch Office: 221 Tran Phu Street, Ha Dong District, Hanoi

WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Banking & Finance
G-guaranteed bonds issued to help Vinashin
Dtinews 15:49, 2013/10/11
Vietnam will start listing Government-guaranteed bonds at the Singapore Stock Exchange from October 11 to help the troubled Vietnam Shipbuilding Industry Group (Vinashin) repay its creditors.
The bonds, issued as global fund certificates, have been registered at the New York Stock Exchange, it was reported at a press conference co-hosted by Vinashin and the Finance Ministry’s Debt and Asset Trading Corporation (DATC) in Hanoi on October 10.


 
The move will help the State-run Vinashin cover a foreign loan worth 600 million USD, which the chairman of its board of directors Nguyen Ngoc Su said is crucial for the group to repay other foreign debts, allowing it to speed up the badly-needed restructuring of the company.

The bonds will be issued for 12-year terms with an annual interest rate of 1 percent.

The reform of Vinashin was ordered in 2010 after Government inspectors uncovered the group’s financial malpractices. At the end of 2009, the company was more than 86.7 trillion VND (4.1 billion USD) in debt.
Comments
Other news
16:48, 2025/02/27
Local banks cut interest rates in response to PM’s request
The rate cuts come in response to the Prime Minister’s directive to inspect and review banks that have recently increased deposit rates.
15:51, 2025/02/24
Vietnam set to have digital banks within financial centers
Credit institutions headquartered in these financial centers will not be bound by restrictions on to foreign ownership or foreign investment conditions when providing services there or across borders.
14:30, 2025/02/15
Hanoi expands cashless parking pilot program
Hanoi is advancing its efforts to integrate technology into urban management by expanding the pilot program for cashless parking payments throughout the city.
16:58, 2025/02/11
Prime Minister urges banks to prioritize economic support over profits
One of the key priorities for the banking sector is to support small and medium-sized enterprises (SMEs), as they generate a large number of jobs and contribute significantly to the economy.
17:23, 2025/02/07
Vietnamese Gov’t forecasts CPI growth of up to 4.5% in 2025
With the goal of at least 8% GDP growth, the money supply in the economy will be significantly larger than in 2024. This will have an impact on price indices, particularly consumer prices.
17:51, 2025/01/07
Vietnam prioritizes agriculture and renewable energy for access to green loans
The move is part of the government’s effort to accelerate economic restructuring and build resilience to climate change while protecting the environment.