June 6, 2009 / 1:53 PM / 10 years ago

Vietnam plans sovereign dollar bond issues

HANOI, June 6 (Reuters) - The Vietnamese government has asked its Finance Ministry to plan sovereign dollar bond issues to raise funds for key state-owned projects.

The government said in a directive seen on Saturday the value of each issue must not be less than $500 million.

The directive did not provide a timeline or details for the bond issues but said the government would only use the funds raised from the debt for key state-run projects that needed foreign currencies.

The directive said the Finance Ministry would be in charge of completing details of each issue which would need final approval from the Prime Minister before implenmentation. (Reporting by Nguyen Nhat Lam; Editing by Keiron Henderson)

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