BIDV official appoints bond association chairman

Quach Hung Hiep, the deputy general director of the Bank for Investment and Development of Viet Nam (BIDV), has been voted chairman of the Viet Nam Bond Market Association.

The association was established in 2009 and has 56 members, including commercial banks, securities and insurance companies and fund management and financial institutions. It aims to foster the efficient development of the domestic bond market.

Bond transactions have slowed since August following the central bank's move to devalue the dong. Industry insiders said recent fluctuations in the foreign exchange market would continue to impact investor sentiment in the bond market in the short term.

The State Treasury alone plans to mobilise VND250 trillion (US$11.11 billion) worth of bonds in 2015 but has sold only VND96.47 trillion ($4.28 billion), or 38.5 per cent of the annual quota, as of September 23.

bizhub

>   SMEs still find it hard to access loans (25/09/2015)

>   Vietnam has enough cash for intervention regardless of any FED move: cbank (25/09/2015)

>   State Bank draft overhauls lending (24/09/2015)

>   Vietnam lending growth may accelerate to 16.5 pct in 2015: cbank (23/09/2015)

>   Vietnam’s public debts forecast to occupy 62.3 percent of GDP in 2015 (23/09/2015)

>   Finance ministry: Tax payment procedure lasts 117 hours (23/09/2015)

>   Tax loopholes (23/09/2015)

>   Interest rate cuts needed, but unlikely (23/09/2015)

>   Experts eye sliding tax scale for power (23/09/2015)

>   What bilateral and multilateral trade agreements mean to the Vietnamese investment scene? (22/09/2015)