How to Invest
Choosing the Securities you Want to Buy
| Issuer | State Treasury of Viet Nam |
| Tenor | 5, 10, and 15 years |
| Currency | Vietnamese dong |
| Interest Payment | Rates are determined by the Ministry of Finance. For yield auctions, the finance ministry may set an interest rate ceiling under which bids should fall. Interest paid annually. |
| Minimum Amount of Tender | VND 100 million |
| Method of Sale in the Primary Market | There are several methods of sale on the primary market: |
| Who may buy | Dependent on the method of sale: Individual and foreign investors may buy Treasury/Central Project Bonds from underwriters, from issuance agencies, and at HSTC auctions via bond-bidding participants. Vietnamese citizens and resident foreign investors may also buy via the retail system at the State Treasury. |
| Redemption | Bonds are redeemed at par upon maturity. |
| Taxation | Individual investors are exempt from personal income tax for interest income earned from investing in bonds. Institutions are subject to 28% corporate income tax for any income derived from bonds. |
| Secondary Market Trading | Traded on the monetary market or discounted or pledged at the State Bank of Viet Nam. Listed and traded on the HSTC. |
| Issuer | State-owned Financial Institutions; Credit and Financial Institutions appointed by the Prime Minister. |
| Tenor | 2, 3, 5, 7, 10, and 15 years |
| Currency | Vietnamese dong |
| Interest Payment | Rates are determined by the Ministry of Finance. For yield auctions, the finance ministry may set an interest rate ceiling under which bids should fall. Interest paid annually. |
| Minimum Amount of Tender | VND 100 million |
| Method of Sale in the Primary Market | There are several methods of sale on the primary market: |
| Who may buy | Dependent on the method of sale: Individual and foreign investors may buy Investment Bonds from underwriters and at auctions via bond-bidding participants. Vietnamese citizens and resident foreign investors may also buy via the retail system at the State Treasury. |
| Redemption | Bonds are redeemed at par upon maturity. |
| Taxation | Individual investors are exempt from personal income tax for interest income earned from investing in bonds. Institutions are subject to 28% corporate income tax for any income derived from bonds. |
| Secondary Market Trading | Traded on the monetary market or discounted or pledged at the State Bank of Viet Nam. Listed and traded on the HSTC. |
| Issuer | Ministry of Finance |
| Tenor | 5 and 10 years |
| Currency | Freely convertible currencies |
| Interest Payment | Rates are determined by the Ministry of Finance. |
| Minimum Amount of Tender | 10,000 foreign currency units |
| Method of Sale in the Primary Market | There are several methods of sale on the primary market: |
| Who may buy | Dependent on the method of sale: Individual and foreign investors may buy foreign currency from underwriters. Auctions are not open to individual or foreign investors, only to branches of foreign investment funds resident in Viet Nam. Retail bond issuance is not available to foreign nonresidents. |
| Redemption | Bonds are redeemed at par upon maturity. |
| Taxation | Individual investors are exempt from personal income tax for interest income earned from investing in bonds. Institutions are subject to 28% corporate income tax for any income derived from bonds. |
| Secondary Market Trading | Traded on the monetary market or discounted or pledged at the State Bank of Viet Nam. |
| Issuer | Enterprises appointed by the Prime Minister to be project owners of government projects. |
| Tenor | > 1 year |
| Currency | Vietnamese dong |
| Interest Payment | Rates are determined by the Ministry of Finance. |
| Minimum Amount of Tender | VND 100 million |
| Method of Sale in the Primary Market | There are several methods of sale on the primary market: |
| Who may buy | Individual and foreign investors may buy Government-Guaranteed Bonds from underwriters and at auctions via bond-bidding participants. |
| Redemption | Bonds are redeemed at par upon maturity. |
| Taxation | Individual investors are exempt from personal income tax for interest income earned from investing in bonds. Institutions are subject to 28% corporate income tax for any income derived from bonds. |
| Secondary Market Trading | Traded in the monetary market or discounted or pledged at the State Bank of Viet Nam |
| Issuer | State Treasuries or financial and credit institutions resident in provinces under the authorization of provincial People’s Committees. |
| Tenor | 5 and 10 years |
| Currency | Vietnamese dong |
| Interest Payment | Rates are determined by the Ministry of Finance. For yield auctions, the finance ministry may set an interest rate ceiling under which bids should fall. Interest paid semiannually. |
| Minimum Amount of Bid in Auction | VND 100 million |
| Method of Sale in the Primary Market | There are several methods of sale in the primary market: |
| Who may buy | Individual and foreign investors may buy Municipal Bonds from underwriters and at auctions via bond-bidding participants. |
| Redemption | Bonds are redeemed at par upon maturity. |
| Taxation | Individual investors are exempt from personal income tax for interest income earned from investing in bonds. Institutions are subject to 28% corporate income tax for any income derived from bonds. |
| Secondary Market Trading | Traded in the monetary market or discounted or pledged at the State Bank of Viet Nam, or listed and traded on the HSTC. |