Corporate bond debt will reach 20% of GDP by 2025
The government has set a target that by 2025, the stock market capitalization will be at least 85% of GDP, and corporate bond loans will be at least 20% of GDP.
This is one of the goals stated in Resolution 54 on restructuring the economy from 2021 to 2025, issued by the Government on April 12.
Accordingly, the Government aims to improve the autonomy, adaptability and resilience of the economy. Within each industry or between sectors, fields and the economy, a reasonable structure will be formed in the next 5 years. Some key economic sectors have substantive changes in growth model, productivity, quality…
Economic restructuring goals and targets 2021-2025
| Targets | Target |
| Increase average labor productivity | 6.5%/year |
| Average budget deficit | 3.7% GDP |
| Size of stock market capitalization | 85% of GDP |
| Outstanding debt in the bond market | 47% GDP |
| Outstanding corporate bond market | 20% GDP |
| Spending on scientific and technological research | 1% of GDP |
| Technological innovation enterprise | 15 years |
Corporate bonds Recently, it was considered an attractive and “hot” capital mobilization channel last year, with a mobilization scale of about VND682,000 billion (about 11.5% of GDP in 2021).
The authorities’ handling of a number of violations related to the corporate bond market in the past week, especially the case of the Group Tan Hoang Minh canceled 9 lots of bonds worth more than 10,000 billion VND and a message from Prime Minister Pham Minh Chinh about bond market correctionland and stock auctions show the determination to “reform” this market.
Along with increasing the scale of outstanding loans in the corporate bond market, the Government emphasized the development of the financial market. Solutions to diversify financial institutions, venture capital funds, credit guarantee funds, micro-organizations, financial advisors, credit ratings… will be presided over and built by the Ministry of Finance.
The ministry is also required to develop policies and laws to encourage venture investment. Whether or not there is a separate law on venture investment, the Government leadership assigned the Ministry of Planning and Investment to evaluate and submit to the Prime Minister this year or next year.
Also according to the Resolution, the Government sets a target of having about 1.5 million enterprises, of which about 45% are medium and large enterprises. The contribution of the private sector to GDP is about 55%, and at least 5-10 national products have international brands.
By 2025, the whole country has 35,000 cooperatives, of which more than 3,000 cooperatives apply technology to production and consumption of agricultural products; about 50% associated with businesses along the value chain.
Previously, in the plan launched for the period 2016-2020, the Government had planned to have 1 million businesses by 2020, but the reality did not meet expectations. By the end of 2020, the country has about 850,000 enterprises.
Mr. Minh
at Blogtuan.info – Source: vnexpress.net – Read the original article here
