Building a digital ecosystem for bond issuance: International experience and implications for Viet Nam

NGUYEN THANH HUYEN

PhD. Vietnam Economic and Financial Review, Ministry of Finance

Email: [email protected]

NGUYEN LINH CHI

Email: [email protected]

Abstract

Against the backdrop of Viet Nam’s pursuit of double-digit economic growth, enhancing the capacity to mobilize and efficiently allocate medium- and long-term capital has become increasingly important. Resolution No.19-NQ/TW dated 28 July 2026 and Decision No. 1413/QD-TTg dated 27 July 2026 both emphasize innovation, digital transformation, and improving the efficiency of the financial market. Against this background, this study examines the experience of the European Union and selected Asian economies in bond digitalization and assesses the potential for developing a digital ecosystem for Viet Nam’s bond market. The findings indicate that digitalization can reduce the cost and time of capital mobilization, enhance transparency, standardize data, broaden the investor base, and automate the bond lifecycle. Accordingly, the study proposes the development of a digital ecosystem for bonds, integrated with existing financial infrastructure, to enhance the efficiency of long-term capital mobilization and support Viet Nam’s high-growth objectives.

Keywords: Digital bonds, bond market, digital financial ecosystem, long-term capital mobilization, Viet Nam’s capital market

(The article was published in the Vietnam Economic & Financial Review, Vol. 2, Issue 4, August 2026).

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