Vietnam Seeks Bond Market Growth After Real-Estate Credit Crunch
- Property sector crisis not widespread, finance minister says
- Government aims to expand bond market to 25% of GDP by 2030
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Vietnam is seeking to expand the nation’s corporate bond market as it grapples with a credit crunch for a real-estate sector hurt by a handful of highly-leveraged companies, according to Finance Minister Ho Duc Phoc.
The government does not see a wider impact beyond the select firms that have engaged in bad or illegal practices, he told Bloomberg News in Hanoi on Tuesday. It’s working to ease access to capital for property developers given the market rout and enable easier access to funding for years to come.