Deputy Minister of Finance, Tran Xuan Ha, led a Vietnamese delegation to offer bonds in Hong Kong on January 18, in London on January 19, in Boston on January 20 and in New York on January 21.

The issuance of these bonds is in line with the Government’s resolution and the Ministry of Finance will fix their maximum interest rate at 7 percent per year over 10 years.

The mobilised capital will be used as loans for the Vietnam Oil and Gas Group, the Vietnam Maritime Corporation, the Da River Corporation and the Vietnam Machinery Assembly Corporation (LILAMA), to invest in the Dung Quat Oil Refinery Factory and two hydroelectricity projects and buy transport ships.

Earlier, in October 2005, Vietnam successfully issued Government bonds overseas worth a combined capital of US$750 million with an interest rate of 7.125 percent per year.