On Thursday, the Da Nang People’s Committee (PC) successfully issued municipal government bonds worth a total of 1.1 trillion VND via the bidding process on the Ha Noi Stock Exchange. 

The event attracted 11 bidders offering a total amount of 3.3 trillion VND at interest rates of between 5.48% and 7.2% pa.  Finally, the 5-year bonds, which carry a face value of 100,000 VND each, were sold at the interest rate of 5.6% pa.

The municipal PC said that the issuance of local government bonds aims to raise funds for the city’s socio-economic development projects.  These projects include the Rong (Dragon), Nguyen Van Troi and Tran Thi Ly bridges, the Hi-tech Industrial Park, the city’s Administration Centre, the Hoa Xuan Stadium, the Hai Chau District General Hospital, and the Ngu Hanh Son Cultural and Historical Park.