On the afternoon of November 8, at the regular Government press conference, reporters asked the question: In the context of Vietnam restructuring the capital market to reduce dependence on bank credit, what solutions does the Government have to further develop the capital mobilization channel through primary stock issuance (IPO) and corporate bonds so that these two channels can truly become pillars of the national capital market?
Deputy Minister of Finance Nguyen Duc Chi said that the strategy for developing the capital market and stock market until 2030 approved by the Prime Minister clearly defines the goals and solutions to make the capital market and stock market become the main and important medium- and long-term capital mobilization channel of the economy .
To carry out this task, the Ministry of Finance has synchronously deployed many solutions to develop the capital market and the stock market. Especially in 2025, we have made great efforts to upgrade the stock market from a frontier market to an emerging market.
The Ministry of Finance has also coordinated with relevant agencies, ministries and sectors to organize a conference to evaluate the bond market in 2025; pointing out bottlenecks and issues that need to be resolved.
Regarding the stock market, the Ministry assessed that the recent development has created a very good foundation and basis for businesses in need of raising capital to issue shares (IPO).
In addition, the Ministry of Finance has reported to the Government and the Prime Minister to issue Decree No. 245/2025/ND-CP amending and supplementing Decree No. 155/2020/ND-CP, which creates very favorable conditions for businesses when conducting IPOs associated with listing shares on the stock market. Administrative procedures are shortened to only about 30 days.
Those regulations will have a great effect, motivating businesses to issue shares linked to listing on the stock market to mobilize capital for their production and business activities," the Deputy Minister emphasized.
In 2025, the Government will issue about VND500,000 billion worth of bonds. Thus, the bond market in 2025 will reach about VND1 million billion, including corporate bonds and government bonds.
However, the Ministry of Finance determined that the market with such scale is still not really commensurate with the potential and requirements, especially the requirements for capital mobilization for entities, including the Government and enterprises, in 2026 and the following years. The amended and supplemented Securities Law 2024 has provisions related to the issuance of bonds and investors when investing in corporate bonds. The Ministry is consulting on the development of a guiding decree of the Government, which will take effect from January 1, 2026.
With the above solutions and orientations, the Ministry of Finance expects that in 2026, the bond market and stock market will grow strongly, meeting the capital mobilization goals of market participants and sharing a part of the credit channel of commercial banks.
Source: https://hanoimoi.vn/nhieu-giai-phap-de-thi-truong-von-chung-khoan-tro-thanh-kenh-huy-dong-trung-va-dai-han-722628.html
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