Vietnam news highlights for April 25, 2023
Banks able to buy back bonds at once Banks are now able to buy back corporate bonds immediately after their issuance. Photo: The Hanoi Times The State Bank of Vietnam on April 24 decided to enable local lenders to repurchase unlisted corporate bonds after the sales. The buyback will be proceeded on two conditions. First, the buyer must complete all payments to the bank. Secondly, the bond issuer, or the corporation, must be rated at the highest level by the bank. The rule will be valid until the end of 2023. Previously, banks had to wait at least 12 months to buy back corporate bonds released to the market. The Vietnamese corporate bond market had boomed until early 2022, when top corporate executives were arrested for allegedly manipulating the securities market. Apple’s Taiwanese supplier Quanta to build local factory Quanta Computer, the contract manufacturer of tech giant Apple, will construct a plant in the northern province of Nam Dinh. Under an agreement sign