Among the ASEAN member economies, the smallest government bond markets were those of Vietnam and the Philippines, with each of their local currency government bonds outstanding still below the US$100 billion mark, according to the Asian Development Bank’s latest issue of the quarterly Asia Bond Monitor.
Vietnam Italy Steel JSC (code: VIS) wants to keep selling shares to Kyoei Steel despite its poor business performance after being acquired by a Japanese company.
Vietnam’s local currency (LCY) corporate bonds outstanding last year increased year-on-year by 29.4 percent to over $4 billion.
Vietnam’s economic structure has many alarming issues after 30 years of economic reforms since the private sector accounts for less than 10% of the country’s gross domestic product, while the public and household sectors, making up the larger proportion of GDP, have the largest number of competence issues.
The private sector, despite being considered the driving force of the economy, has yet to achieve a breakthrough due to many reasons, experts said.
Even though the Vietnamese property market is dominated by Singaporean and South Korean developers, Japanese investors are trying to climb closer to the top spot.