In her opening remarks at the conference, Ms. Pham Thi Thanh Tam, Deputy Director of the Financial Institutions Department at the Ministry of Finance, highlighted that despite the complex global and domestic economic landscape, the bond market in 2025 has maintained stability and positive growth.
According to Ms. Pham Thi Thanh Tam, the total capital mobilization through the bond market in 2025 reached over 730 trillion VND, equivalent to approximately 27% of the total social investment capital. The bond market’s scale by the end of 2025 is around 3,830 trillion VND, accounting for 33.3% of the 2024 GDP.
Bond issuance has become the primary capital mobilization channel for the government, contributing 70% to the central budget’s funding needs, with an average issuance term of 9.84 years, meeting the National Assembly’s target.
The corporate bond market in 2025 also experienced positive growth in both the number of issuing companies and the value of mobilized capital (estimated at 441.7 trillion VND).
Ms. Pham Thi Thanh Tam delivering the opening speech at the conference
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In his keynote address, Deputy Minister of Finance Nguyen Duc Chi acknowledged and commended the efforts of regulatory bodies, related organizations, and bond market participants over the past period.
“In 2025, both the government and corporate bond markets continued their stable growth trajectory compared to 2024; the legal framework has been increasingly refined; and coordination among regulatory bodies, market organizers, market makers, and investors has been strengthened,” the Deputy Minister affirmed.
With the Party and State aiming for double-digit GDP growth from 2026, the Deputy Minister emphasized the growing importance of the bond market, alongside the stock market, in becoming a medium- to long-term capital mobilization and allocation channel for the economy.
Regarding the government bond market, the Deputy Minister instructed that in 2026 and subsequent years, efforts should focus on further refining the legal framework and proactively managing it in line with state budget utilization needs and market dynamics. Additionally, there should be flexible coordination between government bond market management and the State Bank’s monetary policy, as well as research and implementation of green bond issuance to support sustainable and circular economy projects.
Furthermore, the Deputy Minister suggested continuing to implement investor development solutions, particularly targeting institutional investors such as investment funds and insurance companies, while maintaining dialogue and exchanges between regulators and market participants to promptly address challenges and foster market development.
For the corporate bond market, the Deputy Minister called for continued improvement of the legal framework, enhanced investor education and training, especially for professional securities investors, and linking bond issuance with credit ratings to enhance transparency and disclosure.
Deputy Minister Nguyen Duc Chi expressed his hope that through this conference, agencies, units, and market participants would engage in open discussions to unify goals and effective solutions, aiming to build a stable, professional, and sustainable bond market in 2026 and beyond.
Deputy Minister of Finance Nguyen Duc Chi delivering the keynote address at the conference
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In his closing remarks, Deputy Chairman of the State Securities Commission (SSC) Nguyen Hoang Duong noted that the Ministry of Finance, the State Bank, and the SSC have closely coordinated in fiscal and monetary policy management, contributing to the safe, stable, and efficient operation of the securities market. As a result, key objectives, including market upgrading, have been largely achieved.
Reports presented at the conference indicated that the government bond market continues to develop steadily, effectively meeting the capital mobilization needs for the state budget, while the corporate bond market has shown positive signs of recovery and improvement.
Deputy Chairman Nguyen Hoang Duong affirmed that, based on the comprehensive absorption of the Deputy Minister’s directives and delegates’ discussions, regulatory bodies and related units would synthesize, finalize, and implement practical and effective solutions to promote stronger development of both government and corporate bond markets, meeting the economy’s capital mobilization needs in the coming period.
Deputy Chairman of SSC Nguyen Hoang Duong delivering the closing speech at the conference
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During the conference, delegates listened to presentations from representatives of the Public Company Supervision Board (SSC) on the performance of the bond market, including government and corporate bonds, and future development directions. A representative from the State Treasury also presented on the 2025 government bond issuance activities and development solutions for 2026.
Additionally, a vibrant and open market dialogue session took place between representatives of regulatory bodies, market operators, and participants. Delegates focused on discussing legal provisions related to issuance activities, payment coordination mechanisms, information disclosure, and proposed solutions for market development in the coming period.
Overview of the conference
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– 18:20 07/11/2025
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