Bonds away in Vietnam

Vietnam promises reforms to stoke growth in local bond market.

Vietnam is planning to kick-start its bond market by setting up a credit rating agency and an independent custodian, and is even considering a debut sovereign bond offer says Nguyen Doan Hung, vice-chairman of the State Securities Commission.

At the same time, the finance ministry is also working to develop a benchmark yield curve for government bonds and to boost liquidity in those bonds in the hope that such measures will help pave the way for more active corporate issuance, which has been pitiful to date.

With so little of the necessary infrastructure in place there are still plenty of obstacles to stimulating the debt market, but...

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