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Friday, June 14, 2024

In need of an enabling environment

By An Nhien

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While the corporate bond market has exhibited signs of stabilization following recent turbulence, a daunting challenge looms ahead with the anticipation of debt repayment peaks in 2024. During a symposium with the theme “Promoting the Efficient, Safe, and Sustainable Development of the Corporate Bond Market,” held by the Vietnam Government Portal on December 4, panelists expressed optimism about the market’s recovery. They noted that investor confidence is gradually improving after a market jolt in late 2022. At the beginning of 2023, there were few new corporate bond issues. However, the market began to pick up in March following the issuance of Decree 08/2023/ND-CP by the Government, which introduced new regulations for privately placed bonds. From April onwards, the number of companies issuing bonds steadily increased, reaching 77 by November, with a total value of VND220 trillion, according to Nguyen Hoang Duong, deputy head of the Banking and Finance Department at the Ministry of Finance. The implementation of the new decree has facilitated negotiations for bond payment terms, resulting in extensions of about 40% of the overdue bond volume for 68 companies. Notably, the success rate of these negotiations increased from 16% in February to 63% by October. Despite ongoing challenges, […]
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