The Prime Minister requested an issuance of nearly US$1 billion in bonds this year to provide loans for projects such as the Dung Quat Oil Refinery, the Secaman hydro-electric power plant No 3 and the Vietnam National Shipping Lines Corporation’s ship purchase plan.

The PM assigned the Ministry of Finance to design the bond issuance and to report its findings at the regular cabinet meeting later this month, the Office added.

The bonds will have a term of 15 and 20 years.