Sun. Nov 27th, 2022

The Australia and New Zealand (ANZ) Banking Group is pitching to
service the corporate bond market in Vietnam , which is reopening
after several slow years.

Tareq Muhmood, the bank’s
chief executive for Vietnam , told “The Australia” newspaper that the
market has been very quiet over the past two and a half years but ANZ
has been one of the first banks to reactivate it recently with a bond
issue.

“We are starting to see more interest in
Vietnam as a destination for investment. I expect this will be very
important over the next few years,” he said.

Muhmood stated that at present, ANZ is putting some more resources and
also talking to a lot of investors such as insurance companies and fund
managers, both in the region and from Europe and North America .

“We are in discussions with a few other companies about their capital
needs and we expect to be doing some more over the next few years,” he
added.

The Vietnamese corporate bond market got off
the ground after the country joined the World Trade Organisation in 2006
but it has been closed over recent years as the country’s economic
growth has slowed.

With a young population of more than
90 million people, Vietnam is seen as one of the emerging markets of
Southeast Asia. -VNA

By vivian