Analysts of FiinRatings predicted the 2026 outlook for Việt Nam’s corporate bond market as very positive and active, with an improving credit quality trend.
Some leading property developers have left billions of đồng in bond interest payments overdue, citing prolonged economic difficulties in the real estate sector.
HDBank has successfully completed its US$100 million international green bond initiative in 2025 with the issuance of a second tranche worth $50 million to the Dutch Entrepreneurial Development Bank (FMO) and British International Investment (BII), the UK’s development finance institution...
The corporate bond market continued its recovery in 2025 with issuance estimated to total VNĐ575.4 trillion (US$21.8 billion), up 11.3 per cent over 2024, according to the Việt Nam Bond Market Association.
The highest penalties of VNĐ1.5 billion ($58 million) apply to acts such as falsifying documents to prove eligibility for issuance, or certifying forged documents in offering dossiers.
The draft decree proposes clearer and stricter responsibilities for issuing companies and organisations involved in preparing and confirming issuance dossiers.
Payment for corporate bonds due in the last quarter of 2025 will be at VNĐ75.7 trillion (US$2.88 billion), of which VNĐ45 trillion will be in December alone, mainly in the real estate group.
The report blamed slow regulatory reform, noting that credit-rating rules took a decade to become mandatory, allowing weak firms to issue risky bonds amid poor oversight and weak transparency.
Despite the slowdown in September, cumulative issuance for the first nine months reached nearly VNĐ398 trillion ($15.1 billion), up 27 per cent year-on-year.
Deputy Prime Minister Hồ Đức Phớc directed the State Bank of Vietnam to study and advise the Government on solutions to issue dollar-denominated bonds.