ANTD.VN - This morning (July 19), the Ministry of Finance held an opening ceremony and put into operation the private corporate bond trading system at the Hanoi Stock Exchange.
At the opening time of the market, Deputy Prime Minister Le Minh Khai and other leaders performed the inauguration ceremony of the private corporate bond trading system, starting the first trading session of the private corporate bond trading market.
Speaking at the ceremony, Minister of Finance Ho Duc Phoc affirmed that putting the individual corporate bond trading system into operation is very necessary. The system is expected to help increase market liquidity and help management agencies, market members, and investors have more information about the market from primary to secondary, thereby making policies on market management and development as well as making more appropriate investment decisions.
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Operating the individual corporate bond trading system from today, July 19 |
According to the Minister of Finance, by the end of 2022, market debt will reach about VND 1.2 million billion, equivalent to 12.6% of GDP, equivalent to 10% of total outstanding credit in the economy. This figure shows that this is an important capital mobilization channel for the economy.
However, compared to its potential and correlation, the size of Vietnam's corporate bond market is still modest. Meanwhile, the size of Malaysia's corporate bond market is 56%, Singapore's is 38%, Thailand's is 25% of GDP...
According to Minister Ho Duc Phoc, recently, the market has had some shortcomings, especially taking advantage of the open policies, some businesses have violated information disclosure.
“Therefore, the establishment of a system of individual corporate bonds is necessary, helping to develop a healthy, stable, effective, transparent and sustainable individual corporate bond market, contributing to creating a diverse financial system, supporting businesses to mobilize medium and long-term capital, reducing over-reliance on bank credit channels" - the Minister of Finance emphasized.
However, according to the leader of the Ministry of Finance, the launch of the individual corporate bond system is just the first step and there is still much work ahead in the direction of building and developing the market in accordance with the level of the economy, expanding international access. Improving transparency, publicizing corporate information, ensuring the rights of market participants...
Accordingly, the solutions that need to be focused on are: perfecting policy institutions; organizing a stable, safe and smooth market operation; reforming and simplifying administrative procedures; promoting propaganda and dissemination of legal policies, information on the market situation, training financial knowledge for investors and strengthening control and handling of unofficial news that negatively affects market activities.
Along with that, promote the activities of intermediary institutions and market services; Continue to strengthen supervision activities to rectify and strictly handle violations in the issuance, investment and provision of services related to bonds, ensuring publicity and transparency for the market.
According to the leader of the Hanoi Stock Exchange, since June, the system has completed testing with its member, the Vietnam Securities Depository. The testing results show that the system has operated stably, meeting the requirements of members in entering orders and looking up information, and meeting the requirements of the Stock Exchange in managing and operating the system.
Transaction data has been fully, accurately and smoothly transferred to the Vietnam Securities Depository for payment.
Hanoi Stock Exchange has also completed organizing 2 training sessions for members, preparing for participation and safe use of the system.
HNX expects more than 1,600 individual corporate bond codes to be put into trading after the system's launch.
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