Minister of Finance Ho Duc Phoc has asked relevant agencies to continue taking measures to address the obstacles and develop Vietnam’s corporate bond market in a safe and sustainable manner.

Focus should be on completing the legal corridor, stabilizing the macro-economy, controlling inflation, supporting the investment environment, and removing difficulties in the real estate market and production and trade, he told a meeting on August 18 held by the Prime Minister’s working group to seek solutions to stabilize the stock market and the corporate bond market.

Minister Phoc also called for greater responsibility from corporate bond issuers in terms of their obligations and commitments towards investors.

The Ministry of Finance will regularly monitor the market and will strictly punish those found to violate regulations, particularly acts of manipulation and fraud, he said.

As of July 28, 36 businesses had issued bonds this year totaling VND62.3 trillion ($2.6 billion), a year-on-year decline of 77.8 per cent.