On June 9, the National Assembly Standing Committee gave its opinion on the reception, explanation, and revision of the draft Law amending and supplementing a number of articles of the Law on Enterprises.
Some delegates suggested considering not regulating specific conditions for enterprises when issuing individual bonds. The Government has clarified the need to stipulate this content in the draft law.
The reason is that the addition of this regulation aims to increase financial capacity for issuing enterprises, limiting bond payment risks for both issuing enterprises and investors.
Regarding this issue, Chairman of the Economic and Financial Committee Phan Van Mai emphasized that bond issuance conditions need to improve quality, transparency and risk control, but must support businesses in accessing capital.
The recent individual bond payment issues are mainly related to real estate enterprises, which have been excluded in the draft law.
Chairman Phan Van Mai also emphasized that the regulation in the law on the specific debt repayment rate of 5 times equity in the law is difficult to ensure flexibility in management to meet practical needs.
Meanwhile, similar content in specialized laws is being regulated in detail in sub-law documents.
From there, the inspection agency proposed 2 options. Option 1 is to assign the Government to specify the debt level and issuance value on equity, in accordance with socio-economic needs and industry characteristics.
Option 2 stipulates that the debt payable ratio does not exceed 5 times equity in the draft law as proposed by the Government, and continues to review and revise to specifically apply to each subject.

Speaking, Politburo member and National Assembly Chairman Tran Thanh Man expressed his agreement with the Government's report, stating that individual bonds are risky financial products.
Bond buyers self-assess the level of risk and are responsible for the risks when buying bonds.
The National Assembly Chairman also said that in fact, there have been recent violations of the law on individual corporate bonds.
The National Assembly Chairman mentioned that recently, businesses have issued bonds everywhere. The lax management of state agencies as well as legal loopholes, leading to businesses not being able to repay principal and interest in full and on time, caused bond investors to file lawsuits and then the State had to take intervention measures.
Therefore, the National Assembly Chairman believes that determining the condition of the debt coefficient payable on business owners' capital when issuing individual bonds is an early preventive measure, in order to overcome the above situation.
Although the Government affirmed that the above rate regulation does not affect capital mobilization for production and business activities, the National Assembly Chairman proposed to clarify whether the regulation of this rate in the law affects the direction, management and operation of the Government or not?
Regarding the option of stipulating the rate in the law or assigning the Government to specify in detail, it will be more optimal, the National Assembly Chairman suggested that the Government should be responsible for specifying and providing specific instructions.