THE SOCIALIST REPUBLIC OF VIET NAM
Government News
IFC, VBMA shake hands for VN’s bond market development
VGP- At its debut on Friday, the Việt Nam Bond Market Association (VBMA) and the International Finance Corporation (IFC) signed a memorandum of understanding (MoU) to introduce international practices which help to promote Việt Nam’s bond market development and consolidate the mechanism to raise capital for infrastructure projects and other urgent needs.
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The signing ceremony of MoU on bond market development between IFC and VBMA, Hà Nội, August 14 – Photo: VGP |
IFC will provide VBMA with advices to speed up the association’s start-up process.
The Thai Bond Market Association was selected as a consultant for the building of market conventions, code of conduct, and regulations for Việt Nam’s bond market.
With support from IFC’s financial experts, Việt Nam’s bond market will apply best practices in bond trading and risk management, said Chairman of VBMA’s Steering Committee Hoàng Huy Hà.
IFC Regional Manager for Việt Nam, Cambodia, Lao PDR and Thailand, Mr. Simon Andrews, said that the foundation of Việt Nam’s bond market is a key step in edging the country’s financial capability and providing an important complement to bank funding and foreign direct investment.
In particular, it will be a good avenue to raise capital for infrastructure development, housing, educational and health projects as Việt Nam continues to grow and address challenges of urbanization, he added.
By Kim Anh