Vietnam Debt Capital Market Forum 2025: Financing the Private Sector for a New Era of Growth

Leverage the success of the Vietnam Debt Capital Market Forum 2024, FiinRatings – A strategic partner of S&P Global – in collaboration with the Credit Guarantee and Investment Facility (CGIF) - a trust fund of the Asian Development Bank (ADB), is pleased to announce the upcoming event: "Vietnam Debt Capital Market Forum 2025: Financing the Private Sector for a New Era of Growth".

Leverage the success of the Vietnam Debt Capital Market Forum 2024, FiinRatings – a Strategic Partner of S&P Global – in collaboration with the Credit Guarantee and Investment Facility (CGIF) - a trust fund of the Asian Development Bank (ADB), is pleased to announce the upcoming event: "Vietnam Debt Capital Market Forum 2025: Financing the Private Sector for a New Era of Growth" 

This forum serves as a high-level policy–market dialogue platform, gathering policymakers, issuers, investors, and both domestic and international experts to promote the development of a sound, efficient, and sustainable debt capital market for Vietnam’s private sector. 

Market Outlook:

On May 4, 2025, the Central Committee of the Communist Party of Vietnam issued Resolution No. 68-NQ/TW on the development of the private sector, clearly identifying it as “an important driving force of the socialist-oriented market economy.” One of the key tasks outlined in the Resolution is to enhance and diversify financing sources for the private sector. In addition to promoting unsecured lending based on credit ratings, other solutions include the development of green credit, upgrading the stock market status, restructuring the insurance market, and improving the legal framework for corporate bonds. These are all aimed at expanding stable and low-cost capital channels for the private sector to support economic growth in the coming years. 

The National Assembly and the Government have demonstrated their commitment to implementing Resolution 68 by issuing Resolution No. 198/2024/QH15 and Resolution No. 138/NQ-CP, which include a series of specific policies to improve institutions and mobilization mechanisms for private sector financing. 

However, in practice, Vietnamese enterprises—particularly those in the private sector—remain heavily dependent on bank credit. In the first half of 2025, credit growth reached 8.3% year-to-date and 18.87% year-over-year. While the corporate bond market has shown signs of recovery, with newly issued bonds reaching VND 265.7 trillion (up 72.3% YoY), the total market size stands at just VND 1.35 quadrillion, equivalent to 10.8% of GDP in 2024—still far from the 25% target by 2030. 

Notably, 83% of the value of corporate bonds issued in the first half of 2025 came from commercial banks, while non-financial corporates—despite having strong medium- and long-term capital needs—have yet to effectively access this channel. This continues to place significant pressure on the banking system and highlights the limited role of the debt capital market in meeting the long-term financing needs of the private sector. 

In this context, recent regulatory changes have sent positive signals, including: enhanced disclosure requirements, mandatory credit rating under the amended Securities Law (2024), and restrictions on private placements by companies with high financial leverage under the amended Enterprise Law (2025). These reforms are laying the groundwork for the recovery of public offerings—a key driver expected to contribute to the healthy development of the debt capital market in the coming period. 

Event Details: 

• Time: 8:00 AM – 12:00 PM ICT, Friday, August 22, 2025 
• Format: In-person 
• Venue: Sofitel Saigon Plaza, Ho Chi Minh City, Vietnam 
• Language: English & Vietnamese (with simultaneous interpretation) 

Key Topics: 

• Policy and market-based solutions to develop the capital market in support of the private sector 

• A new CAPEX investment cycle for the private sector and emerging investment opportunities 

• The role of credit guarantees in private sector financing – ASEAN experience and implications for Vietnam

• The cost efficiency of green bonds as a sustainable financing tool for private enterprises 

• Policy–market dialogue: Transparency, efficiency, and the future attractiveness of the corporate bond market 

Objectives: 

• Update stakeholders on the latest policy developments and market opportunities for issuers and investors 

• Introduce new mechanisms to support private sector access to long-term, cost-effective capital 

• Foster connections between policymakers and market participants to advance capital market reforms in Vietnam in a more effective, transparent, and sustainable manner 

We respectfully invite you to participate in this important event to jointly explore financing solutions for the private sector – a vital engine in Vietnam’s new era of economic growth. 

Registration and full event information available at: THIS LINK

For any questions, please contact: 

• Ms. Uyen Nguyen – Public Relations Officer - (+84) 96 857 6814 
• Email: uyen.nguyenxuanthanh@fiingroup.vn

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