September 24, 2019 is an important milestone for the specialized Government bond market, marking 10 years of construction and development of the market. Over the course of 10 years of operation, the Government bond market has made impressive progress in terms of scale and depth, over the course of 10 years of operation, the Government bond market has made impressive progress in terms of scale and depth affirming an important role as an effective capital mobilization channel for the State Budget.

In the primary market, within 10 years, over 1.8 million billion dong was raised for the State Budget to serve the needs of economic development of the country. This figure corresponds to the average annual mobilization of more than VND 180 trillion, accounting for 10.6% of total investment capital of the whole society in 2018, 31% of total investment capital of the State sector in 2018. To raise more than 1.8 million dong of this capital, there were 1,872 auctions held with the average successful rate of mobilization 60-70% of the total bidding volume. 

Over 10 years, the interest rate of capital mobilization in the Government bond market has decreased significantly, help save for the budget The state has trillions of dong of interest payment and actively supports in regulating the macro-economy of the State.  In contrast to the decrease in interest rates, the maturity of bonds increased. Thanks to the diversity of terms, investors have more options in this market and from a management perspective this also helps reduce the pressure to pay debt in the short term and increase the efficiency of development investment of the whole. society. 

 In the secondary market, Government bond transactions are constantly increasing in size and depth, approaching the countries with developed Government bond markets in the region and in the world. With the ever-improving market legal framework, during the past 10 years, the Government bond market has been continuously adding products on both primary and secondary markets. Basically, the products have met the diverse investment needs of the market, in the primary market, not just the basic product is bonds. Pay interest periodically, but also have interest-free bond products, bonds with a long-term Interest Payment. In the secondary market, in addition to the two basic products are Outright and Repos, facing the strong development trend of Repos transactions, by the end of 2018, there were 3 more Repos products including Bond Loan, sell ​​combined buyout borrowing for sale was introduced to the market with the expectation that market liquidity will increasingly break up, attracting more capital from foreign investors.