The Ministry of Finance has proposed to establish the country’s first
credit rating agency to increase corporate bond market and assist
businesses in mobilising capital for their business and production.

Under the proposal, the agency’s operation will be organised in the
form of either a liability limited company with two members and more or a
joint stock one.

The agency, expected to have a
legal capital of 15 billion VND (714,000 USD), will rate private and
State-owned corporations, finance, banking, insurance and non-financial
institutions.
Under the proposal, shareholders or members of this agency are local and international individuals and organisations.

Capital contributions to set up the agency must comply with the rules
of the existing Enterprise Law, which stipulate that a total ownership
ratio of each organisation or individual is not allowed to exceed 20
percent of the credit rating agency’s capital contribution.-VNA