Credit institutions had the largest outstanding bond debt by the end of 2023 with VNĐ357.2 trillion. The figure for real estate businesses was VNĐ351.4 trillion.
In the latter half of the year, bond issuance is expected to rise with economic momentum, real estate recovery, and easing constraints in the corporate bond market.
The corporate bond market has remained stagnant in the first few months of 2024 due to a series of scandals and legal issues, particularly the arrest of the chairwoman of Vạn Thịnh Phát at the end of 2022.
In addition to simplifying issuance regulations, experts also said that a comprehensive solution is needed to remove legal barriers and develop investor bases.
Significant efforts have been made to enhance the safety, health, and transparency of the corporate bond market, said Nguyễn Hoàng Dương from the Ministry of Finance.
According to assessments from regulatory authorities, firms have recently suffered liquidity issues, potentially resulting in delays in principle and interest payments for corporate bonds.
The market may enter a new cycle. However, the quality of newly issued bonds needs to be carefully observed, especially companies established solely for the purpose of raising capital.
Prime Minister Phạm Minh Chính has called for increased efforts to facilitate credit access, fostering the growth of corporate bond and real estate markets in a manner that is secure, robust, and sustainable.
Statistics showed that about 70 enterprises issued bonds worth VNĐ180.4 trillion in the first 10 months of this year and bought VNĐ190.7 trillion of bonds before maturity, an increase of 30.3 per cent over the same period last year.
The real estate sector has witnessed a surge in corporate bond issuances worth a total of VNĐ30 trillion (US$1.22 billion) in the third quarter of 2023, a move aimed at debt restructuring rather than capital raising.