Vietnam will improve bond legal frameworks

The third general assembly of the Vietnam Bond Market Association was taken place on October 26.

Speaking at the meeting, Deputy Minister of Finance Tran Van Hieu has urged measures to boost the bond market. The deputy minister said that the Government will focus on stably developing primary and secondary markets for Government bonds and introduce new bond products to meet investor demands.

The Government bonds will be restructured to ease debt payment pressures. Meanwhile, corporate bond legal frameworks will be improved to create favorable conditions for companies to raise capital through issuing bonds and to attract foreign investors toward the corporate bond market, he noted.

Deputy Governor of the State Bank of Vietnam Nguyen Thi Hong urged the association to work closely with relevant agencies on measures to boost the bond market in line with the monetary market, developing derivatives markets and diversifying bond products to ease pressure on the banking system.

On this occasion, the association elected the executive board for the 2016-19 term, including 23 members, with Deputy General Director of Vietcombank Pham Thanh Ha becoming the association’s chairman.

Source:VNA