Commenting on Decree No. 65/2022/ND-CP, dated September 16 and amending and supplementing a number of articles in Decree No. 153/2020/ND-CP on offering and trading privately-issued corporate bonds in the domestic market and offering for sale corporate bonds to the international market, analysts believe the new Decree will tighten the bond market, make it healthier, and present opportunities for capable businesses with transparent issuance records.
According to the Viet Dragon Securities Company (VDSC), rising oil prices, VND devaluations, increasing inflation, and falling exports could be major factors in the immediate future and may affect the bond market over the remainder of the year.
According to FiinRatings, though it will not be as vibrant as it was in the second half of 2021, the corporate bond market will gradually return to greater activity at the beginning of the fourth quarter of this year when the amended Decree No. 153 is issued and officially takes effect.
Vietnam’s corporate bond market has seen positive changes from a series of corrective measures by management units. Bonds have been issued again since May, while the volume issued in June was 55 per cent higher than in April.
According to the Vietnam Association of Realtors (VARs), in the long run, corporate bonds will remain an effective capital mobilization channel. Compared to other countries in the region, the size of Vietnam’s corporate bond market is still quite modest. It is therefore necessary to adopt synchronous and effective solutions for the market’s healthy development.
The Techcom Securities Company (TCBS) and the FiinGroup Company have signed a cooperative agreement, especially in the credit rating segment, to contribute to the building of a healthy and sustainable bond market.
