The Vietnam Bond Market Association (VBMA) officially made its debut on August 14...
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The Vietnam Bond Market Association (VBMA) officially made its debut on August 14. The event is intended to promote the bond market and protect the legitimate interests of association members.
The VBMA presentation ceremony was held in Hanoi as its first congress. Hoang Huy Ha, Chairman of VBMA’s Steering Committee, said, “The association aims to encourage dialogue between bond traders and regulators to jointly develop the legal framework for Vietnam’s bond market.”
According to IFC - International Finance Corporation, a member of the World Bank Group in Vietnam, the development of the bond market will be an essential step to enhance financial services. This is an additional capital inflow apart from that from banks and foreign investors. Simon Andrews, IFC Regional Manager for the Mekong sub-region covering Laos, Thailand and Vietnam said an effectively operated bond market will be a good capital mobilization channel for projects on infrastructure development, housing construction, health care and education as Vietnam is tackling issues related to urbanization and job creation.
The VBMA acts as a national voice for bond issuers and traders, and co-ordinates with governments, corporations, and investors. VBMA, formerly Vietnam Bond Forum (VNBF), was founded by commercial banks such as BIDV, Vietnamcombank, Vietinbank, ACB and Techcombank and other financial institutions and securities companies.
Accordingly, VBMA will operate as a professional bond market association to boost the development of the bond market and other debt tools in Vietnam. The new association will be the representative agency that would protect the rights and legal benefits of its members and strengthen cooperation among the members for the bond market development in the framework of Vietnam’s law.
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