The growth was driven by both the Government and corporate bond segments.

This is part of an overall plan for Vietnam to stabilize economic fundamentals, contain inflation, and boost growth.

New corporate bond rules introduced by the Government in early March led to the issuance of bonds totaling VND23.8 trillion ($1.01 billion).

There is an urgent need for the government to take swift action to address the problems in the corporate bond and securities markets.

The Ministry of Finance is expected to establish a separate bond market, strengthen inspection and auditing, and create conditions for businesses to raise capital.