Roadmap approved to develop bond market
Outstanding debt in Vietnam’s bond market is targeted at 45 percent of total GDP in 2020 and about 65 percent of GDP in 2030, according to a recently approved roadmap for the market development.
Staff monitor a bond auction (Photo: VNA)Hanoi (VNA) – Outstanding debt in Vietnam’s bond market is targeted at 45 percent of total GDP in 2020 and about 65 percent of GDP in 2030, according to a recently approved roadmap for the market development.
Under the plan for 2017-2020 with a vision to 2030, approved by the Prime Minister, the outstanding debt of the Government bond, Government-guaranteed bond and municipal bond market is aimed at about 38 percent of total GDP in 2020 and 45 percent in 2030.
The corporate bond market’s outstanding debt is hoped to reach some 7 percent of GDP in 2020.
[Government bonds become darling of foreign investors]
The roadmap aims for stable development, bigger size and better quality of Vietnam’s bond market, which should have more diverse products, proactively integrate into the global market, and gradually operate in line with international standards and practices.
To that end, Vietnam is set to complete its policy framework for the bond market, develop the primary and secondary markets, diversify investors, and facilitate intermediary institutions and market services.-VNA
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