Building on the success of the 2024 Vietnam Debt Capital Market Conference, FiinRatings – a Strategic Partner of S&P Global – continues its collaboration with the Credit Guarantee and Investment Facility (CGIF), a trust fund of the Asian Development Bank (ADB), to co-host the 2025 edition on a broader scale with a more substantive agenda. 

Against the backdrop of Resolution No. 68-NQ/TW, which positions the private sector as a key driver of economic growth, recent reforms – including mandatory credit ratings, enhanced information transparency, and stricter regulations on private placements – are laying the foundation for a more robust capital market. However, in practice, the private sector still relies heavily on bank credit, while the corporate bond market, especially public offerings, has yet to be effectively leveraged. 

This year’s forum serves as a high-level platform for dialogue between policymakers and market participants. It brings together issuers, investors, and experts from both domestic and international markets to promote solutions for mobilizing long-term, cost-effective, and sustainable capital for the private sector. 

Key Discussion Topics: 
🔹 Exploring solutions to develop the capital market as a catalyst for private sector growth in the current context. 
🔹 Innovative tools and mechanisms to help private enterprises raise capital effectively. 
🔹 The role of credit guarantees in private sector funding – insights from ASEAN countries and implications for Vietnam; evaluating the cost-effectiveness of green bonds. 
🔹 Policy and market dialogue: Enhancing transparency, efficiency, and the appeal of Vietnam’s corporate bond market in the next phase. 

Forum Agenda

Opening Remarks 

• Mr. Do Ngoc Quynh – Vice Chairman, FiinRatings; Secretary General, Vietnam Bond Market Association (VBMA) 

As one of Vietnam’s leading experts in finance and capital markets, Mr. Quynh will deliver the opening remarks, framing the discussions around the development needs of the debt capital market, especially given the evolving landscape of private sector growth. 

Keynote Address 

• Mr. Bui Hoang Hai – Vice Chairman, State Securities Commission of Vietnam (SSC) 

Mr. Hai’s keynote address is expected to provide strategic regulatory guidance from the government, reinforcing efforts to foster a transparent and sustainable capital market. 

Keynote Presentation | A New CAPEX Growth Cycle by Private Sector and Investment Themes 

• Mr. Le Hong Khang – Analytical Director, FiinRatings 

With deep expertise in credit analysis and capital markets, Mr. Khang will present insights into the evolving CAPEX investment cycle of the private sector. His presentation will highlight key credit factors for investors and provide strategic recommendations to help businesses effectively access capital markets during the next phase of economic growth. 

Panel Discussion | Unlocking Vietnam’s Capital Market to Drive Private Sector Growth

• Mr. Dominic Scriven – Founder and Chairman, Dragon Capital 
• Mr. Nguyen Quang Thuan – Chairman, FiinGroup and FiinRatings 

The speakers will share perspectives on how Vietnam can unlock capital to support private sector development and sustain high economic growth, while maintaining financial stability and managing systemic risks. The session will also address emerging financing and investment opportunities in this new era of growth. 

Presentation | Credit Guarantees as Way to Finance Private Sector Growth in the new Cycle 

• Ms. Soleil Corpuz – Senior Research Analyst, CGIF 

Drawing on her deep research experience in the ASEAN+3 bond markets, Ms. Corpuz will explore how credit guarantees can strategically enhance private sector access to capital. The session will offer effective implementation models and tailored mechanisms for the Vietnamese context. 

Fireside Chat | Does A Green Labelled Bond Really Mean Cheaper Cost of Capital? 

• Ms. Fonthip Yuthaseree – Sustainable Finance Expert/ Consultant, Asian Development Bank (ADB)
• Mr. Nguyen Tung Anh – Head of Credit Research and Sustainable Finance Services, FiinRatings 

This dialogue between experts from ADB and FiinRatings will examine the necessary conditions under which green bonds can move beyond being merely a “green” label to become a viable financing solution for Vietnamese enterprises. The discussion will clarify whether green bonds can deliver not only environmental impact but also real, measurable benefits in terms of cost and access to capital. 

Panel Discussion | Reforms and Beyond: Charting the Next Phase For Vietnam’s Corporate Bond Market 

Panelists: 

• Mr. Saurabh Kumar – Head, S&SEA Debt Capital Markets, BNP Paribas 
• Mr. Nguyen Duc Hai – Managing Director, Head of Portfolio Management/Fixed Income, Manulife Investment Management (Vietnam) 
• Mr. Hoang Dinh Gia – Investment Specialist, CGIF 
• Representative of a Corporate Issuer 

Moderator: Mr. Le Hong Khang – Analytical Director, FiinRatings 

This flagship panel will feature perspectives from both corporate issuers and institutional investors on the future of Vietnam’s corporate bond market. The discussion will focus on capital-raising needs, existing market constraints, investor evaluation criteria, as well as recent policy developments and the growing demand for enhanced transparency and corporate governance. Grounded in practical insights, this session aims to identify transformative solutions to support the development of a corporate bond market that is more resilient, efficient, and sustainable. 

Closing Remarks 

• Mr. Anuj Awasthi – Vice President Operations, CGIF 

Drawing on his extensive regional experience and strategic perspective, Mr. Anuj Awasthi will deliver the forum’s closing remarks, summarizing key insights and sharing his outlook on the future of Vietnam’s debt capital market in the new era of growth. 

--------------------

The “Vietnam Debt Market Forum 2025: Financing the Private Sector for a New Era of Growth” is co-hosted by FiinRatings – a Strategic Partner of S&P Global – and the Credit Guarantee and Investment Facility (CGIF), a trust fund of the Asian Development Bank (ADB).

• Time: 8:00 AM – 12:00 PM ICT, Friday, August 22, 2025 
• Venue: Sofitel Saigon Plaza, Ho Chi Minh City, Vietnam 

We cordially invite you to join this important forum as we work together to shape financial solutions for the private sector – a key driver of growth in the New Era. 

Registration and full event information available at: THIS LINK

For any questions, please contact: 

• Ms. Uyen Nguyen – Public Relations Officer - (+84) 96 857 6814 
• Email: uyen.nguyenxuanthanh@fiingroup.vn