On the afternoon of November 8th, during the regular government press conference, the media inquired about strategies to strengthen capital mobilization through initial public offerings (IPOs) and corporate bond issuances, aiming to establish these channels as pillars of the national capital market.
Deputy Minister of Finance Nguyen Duc Chi stated that the development strategy approved by the Prime Minister for the period up to 2030 clearly outlines the goal of implementing solutions to make the capital and stock markets the primary and crucial channels for medium and long-term capital mobilization in the economy.
To achieve this, the Ministry of Finance has implemented a range of synchronized measures to foster market development. Throughout this period, particularly in 2025, the Ministry has conducted numerous practical activities in the stock and capital markets.
Deputy Minister of Finance Nguyen Duc Chi discusses capital mobilization solutions. Source: VGP
The Ministry of Finance has also collaborated with various agencies to assess the 2025 corporate bond market, identifying bottlenecks and issues while proposing solutions.
Furthermore, the Ministry reported to the Government, leading to the issuance of Decree No. 245/2025/NĐ-CP, which amends and supplements Decree No. 155/2020/NĐ-CP. This new decree significantly facilitates enterprises conducting IPOs linked to stock market listings.
Specifically, administrative procedures have been streamlined. Previously, post-IPO financial report reviews took 3-6 months. Under Decree No. 245/2025/NĐ-CP, this process is now expedited to approximately 30 days, providing a substantial incentive for companies to pursue IPOs and listings.
In 2025, the Government plans to issue approximately VND 500 trillion in government bonds. The corporate bond market, both public and private, has rebounded, with issuances totaling another VND 500 trillion. Thus, Vietnam’s 2025 bond market is expected to reach VND 1 quadrillion, encompassing both corporate and government bonds.
However, Deputy Minister Chi noted that this market size does not yet match the potential or capital mobilization needs of the Government and enterprises for 2026 and beyond. Consequently, the Ministry of Finance has proposed fundamental solutions to enhance market development, facilitating bond issuances for both the Government and businesses.
The amended 2024 Securities Law includes provisions for corporate bond issuances and investor participation. The Ministry is drafting a government decree to guide these regulations, set to take effect on January 1, 2026.
The Ministry of Finance will focus on improving procedures, clarifying issuer-related regulations, and ensuring bond quality. This includes defining investor eligibility criteria for different bond types and establishing inspection and supervision mechanisms to ensure a safe and transparent market.
