After strong growth in the previous quarter, Vietnam’s currency bond market contracted 0.2% due to a decline in the Government bond market and slower growth in corporate bonds.
The 10-year government bond future contracts will be officially launched on derivatives market from June 28, according to the Hanoi Stock Exchange (HNX).
Vietnam’s stock market reached approximately 87.68 percent of the country’s Gross Domestic Product (GDP) as of the end of 2020, the highest rate reported so far.
Deputy Prime Minister Vuong Dinh Hue received Chairman of the China Taiping Insurance Group Luo Xi in Hanoi on November 12, welcoming the firm’s intention to invest in the insurance market of Vietnam.
Prime Minister Nguyen Xuan Phuc has approved a project to restructure the stock market until 2020 with a vision to 2025, with an aim to make it an important channel for middle- and long-term capital regulation.
In recent years, the Government bond market has become an important capital mobilisation channel for Vietnam. However, the scale of the country’s bond market is modest compared to national economic scale and to other regional countries.
Government bonds have recently seen strong foreign buying despite the facts that the USD is expected to continue appreciating and Vietnam has no incentives to attract foreign investment in its bonds.
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