Corporate bonds:
An important capital mobilization channel
for Vietnamese enterprises

Corporate bonds play a critical role as a medium- and long-term capital mobilization channel for businesses, enabling them to diversify funding sources, reduce dependence on credit institutions, and contribute to the target of reaching 25% of GDP by 2030. However, the issuance of corporate bonds faces several challenges, including limited bond liquidity, low investor interest, poor credit ratings, a lack of non-bank investors, inadequate disclosure and compliance, insufficient financial literacy, reluctance toward supervision, and a shortage of digital tools. To address these issues and promote the development of the corporate bond market, this study proposes key solutions, such as improving the legal framework, strengthening management and supervision, enhancing transparency and liquidity, lowering bond face values, and exempting income tax on corporate bond investments.