Vietnam State Treasury to mobilise $8.05bn in 2013

Vietnam State Treasury is expected to successfully mobilize a total of 170 trillion Vietnamese dong ( 8.05 billion U.S. dollars), up 47.82 percent year-on-year, said a press release on the official website of Vietnamese government. The country's State Treasury is likely to complete the set plan for the year 2013, said the website. The mobilized capital is used for development investment and compensation for Vietnam's state budget deficit, according to the website. Vietnam News online newspaper quoted Tran Minh Hang, deputy general director of the treasury, as saying that the positive results were supported by the country's increased economic stability with growth rate and inflation maintained at reasonable levels. For investments, the State Treasury has rejected to pay for 90 billion Vietnamese dong (4.26 million U.S. dollars), mainly because of irrational offers of investors of paying at higher price than the winning bid price, wrong number or not included in contracts, estimates, said the release. Vietnam State Treasury is under the Ministry of Finance (MOF), assigned to mobilize capital for State budget and development investments through issuing government bonds, according to the MOF website.