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Pushback on Vietnam bond market reforms resurfaces

The HCM City Real Estate Association (HoREA) has made overtures to the government to push back the effective date of reforms to the bond market due to take effect from January 1, 2024, Vietnam News is reporting. These reforms were outlined in Decree 65 and came into effect in September 2022. This, however, led to the bond market seizing up. In response three key pillars of the decree were suspended in March of this year. Specifically:

  • Only giving access to the bond market to certified ‘professional investors,’
  • Compulsory credit ratings for high-value bond issues; and,
  • Regulations on the intervals between issuing sets of bonds.

The temporary suspension of these regulations is set to end at the end of December. HoREA, however, is pushing to have the suspension extended citing continued challenges raising capital for real estate firms.

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