Credit institutions led with 25 percent of the total corporate bonds issued. Real estate followed with 16 percent.

In 2020, private placements accounted for VND403.46 trillion worth of bonds, up 30.4 percent, while public issuances were up 82.7 percent to VND34.2 trillion.

The market has become quiet in 2021 after new regulations took effect in the new year, tightening conditions for corporate bond issuance to protect investors.

A recent government decree mandates that buyers of corporate bonds must be professional securities investors who do proprietary trading or offer brokerage, underwriting and investment consultancy and management services, individuals holding listed or registered securities worth at least VND2 billion or having annual taxable income of at least VND1 billion or financial institutions and companies with charter capital of more than VND100 billion.