Banks continue to be the major players, accounting for 67.7% of the total issuance value.

Vietnam’s corporate bond market continued its recovery in
2025 with total issuance value estimated at VND575.4 trillion ($21.8 billion), up
11.3% over 2024, according to a report from the Vietnam News Agency.

Private placements accounted for 90.6% with 486 issuances, according
to the Vietnam Bond Market Association.

Banks continued to be the major players, accounting for
67.7% of the total issuance value, followed by real estate firms (22.9%) and
securities companies (2.9%).

2025 saw major regulatory changes aimed at improving
transparency, strengthening risk control and protecting investors, including
tightening conditions for both private and public bond offerings.

Vietnam’s stock market development strategy by 2030 targets
to develop corporate bond market into a key source of medium- and long-term
capital raising with a total outstanding bonds equivalent to at least 25% of
GDP by 2030.

VnEconomy-Vân Nguyễn