The issuance of corporate bonds in Vietnam will have to undergo credit ratings from 2020. This will be a major change in the bond market.
This is the content of the Decision approving the development planning of credit rating service by 2020 with vision to 2030 issued by the prime minister on April 17.
Another notable content of the above mentioned decision is from now to 2030, the Ministry of Finance will only review and grant certificate of eligibility to do business to maximum five businesses providing credit rating service.
The Ministry of Finance will also be the unit that grants the certificate of eligibility to provide credit rating service and at the same time evaluate the performance of this type of businesses and propose to the prime minister to adjust the aforementioned planning if necessary.
As per the government, the development of this service is to support the stock and bond markets, improve transparency and publicity, promote the capital mobilisation through the stock market, and protect the rights and interests of investors.
Earlier, the standards of this service were specified in Decree 88/2014 on credit rating service.