The State Bank of Vietnam (SBV) has not accepted cryptocurrencies as a currency and a legal means of payment, said Nghiem Thanh Son, Deputy Director of the SBV's Payment Department.
The domestic corporate bond market developed rapidly in April, an official from the Ministry of Finance (MoF) said on May 11, marked by the strong involvement of private investors.
The Ministry of Finance has decided to set up a research group which would be in charge of studying and proposing policies to manage virtual assets and cryptocurrencies.
At the end of November, the size of the Government bond (G-bond) market was equal to 25.1 percent of the gross domestic product (GDP) of 2019, rising 12-fold from 2009, data show.
Vietnam’s Government bond (G-bond) market would become a safe, effective and highly lucrative investment mechanism for commercial banks, insurance networks, investment funds and foreign investors.
Vietnam is making concerted efforts to improve the quality of information disclosure and transparency of corporate bond issues and listings to develop a healthy bond market and reduce risks for investors.
A meeting held in Hanoi on May 10 discussed financial solutions for businesses amid the current context in which roughly 20 percent of firms in need of funding still have problems gaining access to credit.
The Master Agreement for Repo Transactions was introduced at the annual meeting of the Vietnam Bond Market Association (VBMA) held in Hanoi on March 12, with 17 members of the association signing an MoU on the use of the master agreement.
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