Mr. Hoang Huy Ha- Vice General Director of the Bank for Investment and Development of Vietnam (BIDV) was assigned to be the President.
Mr. Do Ngoc Quynh- chairman of the Vietnam Bond Forum., Vice manager of the Capital and Money Trading Department of BIDV was also elected to be the general secretary.
VBMA shall function as a professional bond market association and a professional community with high standards in the bond market of Vietnam.
The purpose of VBMA is to promote the development of the bond market and other debt tools in Vietnam, standing for the legal rights and benefits of its members and facilitating the cooperation among members for better growth of the bond market in the legal frame of Vietnam.
The establishment of VBMA is crucial in the context that the Government has been trying its best to reform the financial market of Vietnam.
Objectives of the Association:
- Standardize commercial customs and market practices towards bond transactions and other debt tools in the bond market of Vietnam.
- Improve the regional and global integration capability of the bond market in general and its members in particular by encouraging partners to apply international trading customs suitable to the bond market of Vietnam.
- Establish a code of conduct and professional ethics to adjust the relations between partners in the bond market of Vietnam to ensure equality for each member.
- Improve the professionalism of the market via general activities, information analysis, consultation, training and provision of supporting services to members and related subjects regarding trading of bonds and other debt tools in the bond market.
- Be a forum for discussions, information updates, enhanced cooperation and mutual understanding among its members, and between its members and the State administrative departments as well as related international market entities; provide ideas and support functional agencies in the completion of policies and a legal framework for the bond market of Vietnam.
- Update, synthesize, store and build a market database to improve the transparency of the bond market of Vietnam.