– The Vietnam Asset Management Company (VAMC) is scheduled to open a bad debts trading floor in the third quarter of this year. 

Doan Van Thang, general director of VAMC, said after adopting the Resolution on the pilot settlement of bad debts of credit institutions, the Government, Ministry of Finance, and the State Bank of Vietnam have strongly supported VAMC to handle and collect debts.

To date, 21 credit institutions have paid off outstanding loans to VAMC. Since 2018, VAMC has successfully auctioned nearly 130 million USD of debts and secured assets.

Vietnam’s debt market is new and lacks legal framework for entities joining the market. A VAMC Club with 23 members will be established to exchange ideas on the market.

Source: VOV5