Headlines 18/03/2023 08:29 SA

Vietnam to control capital mobilization by real estate enterprises on stock market

Thu Linh

On March 11, 2023, the Government of Vietnam promulgated Resolution No. 33/NQ-CP on solutions to difficulties and promotion of the safe, healthy, and sustainable development of the real estate market.

According to the Resolution, regarding essential tasks and solutions in the corporate bond capital source, the Government of Vietnam requests that authorities at various levels:

- Direct and instruct the implementation of capital mobilization (including bond issuance) by real estate enterprises on the stock market in compliance with laws.

- Control the capital mobilization of real estate enterprises on the stock market, preventing speculation, manipulation, and price exaggeration.

- Enable real estate enterprises (with sufficient capacity, good and healthy business performance, etc.) to mobilize capital for recovery and development.

- Inspect and supervise compliance with laws on issuance, investment, and provision of corporate bond services, especially the issuance of privately placed bonds of real estate enterprises, credit institutions related to real estate enterprises, enterprises with large quantities of issued bonds and high interests, enterprises with loss-making business results, and bond issuers with no collateral.

- Study and propose synchronous policies on and solutions to the safe, healthy, and sustainable development of the corporate bond market.  

Resolution No. 33/NQ-CP was promulgated on March 11, 2023.

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