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Activities Calendar Ahead

The Vietnam Bond Market Association (VBMA) would like to invite you to attend VBMA’s 2014 Annual Meeting and 5th Anniversary Gala Dinner to be held from 24 to 25 October 2014 at

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Organized in association with the Asian Development Bank, The Asset's 9th Asian Bond Markets Summit 2014 attracts over 300 active issuers and investors in the region, making it the best venue for you to engage the most influential players in the Asian bond markets industry. Registration to the Summit is now in full swing. We advise early...

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VBMA, in partnership with Asia Risk, is delighted to invite you to join the 10th annual Asia Risk Congress being held on the 30th of October at the Four Seasons Hotel, Hong Kong.

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VBMA- in collaboration with and support the SSC – would like to invite you to the workshop on the legal framework for Derivative Securities and Derivative Securities Market held on September 25, 2014 at 08:30 AM at 10th Floor, Vietnam News Agency, 5 Lý Thường Kiệt, Hà Nội.

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VBMA would like to invite you to attend the meeting with Credit Guarantee and Investment Facility (CGIF) at 14:00 on August 26, 2014 via Video Conference Facility of Vietcombank both in Hanoi and Ho Chi Minh City. In Hanoi: 3rd floor, VCB Tower, 198 Tran Quang Khai Street, Hoan Kiem District. In HCMC: VCB – 3rd floor, No. 10 Vo Van Kiet...

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VBMA would like to invite you to attend the GMRA Legal Survey Workshop on August 22, 2014 at 08h30 at 21st Floor, Vincom Tower A, 191 Ba Trieu, Hanoi.

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VBMA would like to invite you to the Workshop on ‘The Application of Mathematics on Financial Risk Management’ supported by VBMA, organized by the Vietnam Institute for Advanced Study in Mathematics (VIASM), John von Neuman Institute Vietnam (JVN) and the National Economics University (NEU).

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From June 20 to 22, the Vietnam Bond Market Association (VBMA) will hold the 6th Interbank Offsite at Furama and Pullman Resort - Dan Nang City.

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Vietnam Bond Market Association, in partnership with Risk Asia, is delighted to invite you to the annual ASEAN Risk conference on 15 May 2014, Hilton Millennium Hotel Bangkok.

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VBMA Training course: Fixed Income Trading Techniques (Open for registration). May 08-09, 2014 at Sheraton Saigon Hotel, 88 Dong Khoi, Dist.1, HCMC.

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VBMA Training Course: Corporate Bond Issuance in Vietnam (Open for registration). April 03-04, 2014 at Intercontinental Hanoi Hotel, Tay Ho, Hanoi.

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VBMA in collaboration with Hanoi Stock Exchange organize Member Meeting Conference 2014 Time: 14h00 on February 10, 2014 Venue: Hanoi Stock Exchange, 2 Phan Chu Trinh, Hanoi. VBMA would like to invite all members to attend this conference. Each member may send 02 persons to attend this conference.

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VBMA would like to invite all VBMA members to the Roundtable discussion “Credit Rating Agency – Bussiness Model, Competition & Regulations”

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VBMA in collaboration with IFC will organize the Workshop on Vietnam Capital Markets Development - Local Currency Bond & Structured Products

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VBMA in collaboration with the Ministry of Finance will organize the Workshop on the Guideline for Corporate Bond Issuance Procedure.

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VBMA training course on Structured products (Open for registration). December 12-13, in Ho Chi Minh City.

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Workshop on Practical Application of the Back Office Manual, risk management and sharing experiences on Back Office operation. November 08 – 09, 2013 in Ha Long City, Quang Ninh.

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Member Meeting Conference, Quarter IV 2013 at 14h30 on October 11, 2013; Venue: Ha Noi Stock Exchange, 02 Phan Chu Trinh Street, Hanoi

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Invitation to the meeting on 15 years Government Bond Issuance Plan held by State Treasury and MOF at 14:00 on April 15, 2013 at State Treasury HCMC, 37 Nguyen Hue, Dist. 1, HCMC.

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Member Meeting Conference 2013 at 13h30 on March 06, 2013 at HNX, 2 Phan Chu Trinh, Hanoi

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VBMA Training Course: Corporate Bond Issuance in Vietnam (Open for registration). December 12-13, 2012 –Sofitel Saigon Plaza, 17 Le Duan, Dist.1, HCMC.

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Policy Dialogue Session between the VBMA members and the MOF on the Implementation Circular for the Decree No 01

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Highlights
03/10/2014
Vietnamese government agreed in principal on the issuance of government bond in international market. In the primary market, all VND12,000 billion worth of Government bonds offered in two auctions was raised. Regarding the corporate bond market, TTP planned to issue VND145 billion worth of secured corporate bond this year. In the secondary market, the total bond trading volume in September was VND81,050billion, up 9% m-o-m. Government bonds trading volume was VND73,116 billion. As of the end of September, the market share of Government bonds in total bond outstanding value is 74.89% or VND480,873 billion, comes next is Government-guaranteed bond with 22.72% and the remaining 2.40% is local government bond. Data from the VBMA Market Makers Chatroom indicated that Government bond yield fixing at the end of September 2014 fell significantly across all tenors. Specifically: 39.6 bps with 1-year bond, 44.8 bps in 2-year bond, 51.2 bps in 3-year bond and 105.7 bps in 5-year bond.
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05/09/2014
State Treasury announced the Letter No. 2146/KBNN-HĐV on the revised government bond issuance plan for the year 2014. According to the Letter, the value of Government bond issued this year is VND232,000 billion. In the primary market, VND19,515 billion worth of Government bonds was raised via auctions out of the VND23,000 billion offered. In this September, 3 Treasury bills and 2 Government bonds will come to maturity with the total face value of VND11,445.1 billion. Regarding the corporate bond market, the Vietnam Electricity Construction JSC plans to issue VND150 billion worth of non-convertible bond with 2-year tenor, floating coupon rate adjustable every 6 months. In the secondary market, the total bond trading volume in July was more than VND74,334billion, down 10.3% m-o-m. Data from the VBMA Market Makers Chatroom indicated that Government bond yield fixing at the end of August 2014 increased slightly in the 1-year tenor and decreased rapidly in the 2, 3 and 5-year tenors.
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25/08/2014
On August 25, 2014 the State Treasury announced the Letter No. 2146/KBNN-HĐV on the revised government bond issuance plan for the year 2014. According to the Letter, the value of Government bond issued this year is VND232,000 billion, classified by tenors as below:
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05/08/2014
In the primary market, VND22,950 billion worth of Government bonds was raised via auctions out of the VND23,000 billion offered. In this August, 3 Treasury bills will come to maturity with the total face value of VND2,570 billion. Regarding the corporate bond market, CII and SFI has converted their bonds into common stocks in July, Ocean Group cancelled the plan to issue VND980 billion in the 2nd quarter of 2014, NBB and NLG planned to issue VND210 billion and VND350 billion, respectively, in 2014. In the secondary market, the total bond trading volume in July was more than VND82,858 billion, reached the highest level this year so far. Outright trading volume accounted for 74.22% of total trading. Government bonds trading 79.19%. Data from the VBMA Market Makers Chatroom indicated that Government bond yield fixing decreased across all tenors 1, 2, 3 and 5 years compared to June, the decreases range from 0.5 bps to 51 bps.
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31/07/2014
VBMA in the collaboration and support ADB – AsianBondsOnline conducts the Liquidity Survey for Vietnam Bond Market. This survey aims to assess the current state of liquidity in emerging Asia’s local currency (LCY) bond markets by looking at major indicators of liquidity such as bid–ask spreads, trading sizes, and turnover ratios; as well as how market participants view potential changes in policies and improvements to market infrastructure.The annual results of the liquidity survey is published in our November issue of the Asia Bond Monitor.
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28/07/2014
The Ministry of Finance is drafting the circular which will replace the Circular No. 17/2012/TT- BTC on Government Bond Issuance and would like to get market participants' comments about the draft circular.
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21/07/2014
On July 18, 2014 the State Treasury announced the issuance plan for 3rd quarter of 2014. According to the announcement, the State Treasury plans to issue VND50,000 trillion worth of Government bond in the third quarter of 2014. Specifically as follows:
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08/07/2014
In the primary market, VND20,000 billion worth of Government bonds was raised via auctions out of the VND24,000 billion offered. The winning/offering ratio this month rose to 83.3% from 53.6% last month. In this July, 3 Treasury bills and 3 Government Bond will come to maturity with the total value of VND14,812 billion. The total interest payment for Government bonds in July is VND2923.9 billion. Regarding the corporate bond market, Eximbank and HDBank plan to issue VND8,000 billion and VND1,400 billion, respectively, in 2014. In the secondary market, the total bond trading volume in June was more than VND76,750 billion, up 31% m-o-m and reached the highest level this year so far. Government bonds accounted for 78.84% of the total trading volume, outright trading accounted for 71.40%. Data from the VBMA Market Makers Chatroom indicated that Government bond yield fixing decreased slightly in the 2, 3 and 5-year tenors, while increased in the 1 year tenor.
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08/07/2014
The Ministry of Finance issued the Circular No. 34/2012/TT-BTC dated May 22, 2012 on the Government-guaranteed Bond Issuance and Circular No. 167/2013/TT-BTC dated November 15, 2013 on amending and supplementing Circular No. 34/2012/TT-BTC. There were several difficulties in implementing the above Circulars. Therefore, the Ministry of Finance is drafting a new Circular, replacing Circular No. 34/2012/TT-BTC.
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02/07/2014
In the Saturday afternoon, June 21 - 2014, within the scope of the Interbank Offsite 2014, VBMA organized the Interbank Tennis Tournameent in Da Nang. The outcome of the Tournament are as follows:
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