IFC, VIETNAM BOND MARKET FORUM BEGINS

Nha Trang (VNA) -- The International Finance Corporation (IFC) and the Vietnam Bond Market Forum began a two-day seminar in Nha Trang on June 5 as part of its effort to promote bond markets as an alternative source of financing for Vietnam during the economic downturn.


A fully developed bond market, operating consistently with international practice,
would help the Government finance its development agenda, including urgent
large-scale industrial and infrastructure projects, the IFC said in a press
release.


At the seminar, senior financial specialists from the Ministry of Finance and the
State Bank of Vietnam , together with experts from the forum, the IFC, the
World Bank and Bloomberg shared insights on the challenges of developing bond
markets in emerging economies.


"The development of the bond market requires Government commitment and support
combined with active participation from the private sector," said IFC programme
manager Margarete O Biallas. "IFC realises the importance of a well-functioning
bond market in economic development, and therefore is willing to support bond
market players."


The seminar also covered the need to develop bond market associations, which play
critical roles in the standardisation of market practices, and experiences were
shared on the opening day of the seminar by the president of Thailand ’s bond
market association.


"This was a valuable opportunity to learn from international experience," said
Hoang Huy Ha, chairman of the committee leading the effort to establish a bond
market. "The advice and support from regulators and authorities are greatly
appreciated and will be used in the design of the [bond market] association, which
we expect to launch in the second half of 2009."


The IFC, a member of the World Bank Group, advises governments, enterprises and
industry sectors on how to grow sustainable businesses and create a healthy
investment climate. -Enditem