Decision No. 155/2003/QD-BTC on the first drive issuance of foreign-currency Goverment Bonds for investment in a number of important traffic and irrigation works in the country

No. 164 (08··10·2003) PFFICIAL GAZETTE THE MINISTRY OF FINANCE DECISION No. 155/2003/QD-BTC OF SEPTEMBER 24, 2003 ON THE FIRST-DRIVE ISSUANCE. OF FOREIGN-CURRENCY GOVERNMENT BONDS FOR INVESTMENT IN A NUMBER OF IMPORTANT TRAFFIC ANO IRRIGATION WORKS OF THE COUNTRY THE MINISTER OF FINANCE Pursuant to the Government's Decree No. 771 2003/ND-CP of July 1, 2003 defining the functions, tasks, powers and organizational structure of tho Ministry of Finance; Pursuant to the Govornment's Decreo No. 2!J/CP of April 5, 1.995 defining tt,o tasks, powerr; amt 01:qanizationat structure of the S'tato Treasury under tho Minist,y of Finance; Pursuant to the Government's Decree No, 01/ 2000/ND-CP of January 13, 2000 promulgating the Regulation on the issuance of Government bonds; Pursuant to the Prime Minister's Decision No. 182/ 2003/QD-n:q of September 5, 2003 on the issuance of Government bonds for investment in a number of important traffic and irrigation works of t/Je country; At the proposal of the general director of the State Treasury, DECIDES: Article 1.-To Issue foreign-currency Government bonds in the first drive with a value of 100 million US dollars (USO) for investment in a number of important traffic and irrigation works of the country. Article 2.-Govemment bonds shall be issued and paid in USO, in form of certificates or book entries. Bond certificates include registered and bearer ones; pro •printed wi! h di ffrn:ent deli or n inations of US D 500, USD 1,000, USO 5,000 and USO 10,000. Article 3.- The modes of issuance of Government bonds 1 . Direct retail at the State Treasury in Hanoi and the State Treasury in Ho Chi Minh city. ·1.1. The bond buyers shall lnclude Vletnamese or9anizations and citizens; overseas Vietnamese; lornigneri, working and residing in Vietnam; and fornign organizations operating in the Vietnamese territory, excopt for those participating in the biddin~J of foroign-curi-ency Government bonds through tho Statu I3ank. Vietnarne,,e or(J,-rni2.ations must not use funding principals or· ink,rosts, the bond ownern do notcornn allocaterl fro111 the Sta If; budget to purchase foreiqn- to got tho payment, such principal:, or into rests shall currency Govcirnrnont bonds. be reserved for refund to the bond ownms when they nood to got the payment; interost shall not be 1.2. Bond term: 5 years. 1.3. Bonet interest rate: 3.5%/year, fixed for the whole term of 5 years and paid at the end of each year. 1.4. Issuance duration: Beginning from October 15, 2003 and ending before December 31, 2003. 2. Bidding through the State Bank: 2.1. Subjects eligible to participate in the bidding lo r the Government bonds are credit institutions which operate under the Law on Credit Institutions in Vietnam, are permitted to deal in foreign exchange and have foreign-currency accounts opened at the State Bank. 2.2. Bond term: 5 years. 2.3. Interest rates are formed through the bidding results. calculated for the pr·incipalized amounts and for the over-mature period. Article 5.- Government bond owners shall enjoy the following rights and preferences: 5.1. To be entitled to transfer, donate, bequeath or use in pledges ln credit relations. 5.2. Bond owners being individuals shall be exempt from personal income tax for their incomes from bond interests and enjoy free-of-charge bond custody at the system of State Treasury. Article 6.- The general director of the State Treasury shall have to: 6.1. Organize the issuance of foreign-currency Government bonds by the modes prescribed in Article 3 of this Decision. 6 .2. Report on, account and settle foreign 2.4. Issuance time- From October 10, 2003. currency Government bond revenufls ahd payments Article 4.~ Principles for payment of principals and interests of Government bonds: 4.1. Mature retailed bonds (principals and interests) shall ba paid at the State Treasury offices where suc!1 bonds have been issued. Bonds bid through the State Bank shall be paid by the Finance Ministry (the Central State Treasury). 4.2. Bond principals shall be paid in lump surn upon their maturity. 4.:l Bond int0resti; st1all be pai(j once a year. 4.4. If upon the bond maturity for payment of ·' according to the prescribed regimes. 6.3. Decide on the time, volume and interest rate of each bidding session of foreign-currency Government bonds through the State Bank within the celling interest rate set by the Finance Minister for each period. Article 7.- This Decision takes effect as from the effoctivo date ol the Prime Minister's Decision No. 182/2003/UO- I lg of September 5, 2003. The general diroctor of t\10 State Streasury, the heads of tho concerned units under mid attached to tho Financr') Ministry, and lho directors of the fitate Treasury offices in Hanoi and Ho Chi Minh city shall Treasury, have to implement this Docision. Minister of Finance NGUYEN SINH HUNG