The State Bank of Viet Nam (SBV) is the country's central bank responsible for monetary policy, management of the exchange rate, and supervision of credit institutions. The Ministry of Finance (MOF) oversees the issuance of government bonds and determines the amount of bonds to be issued.

The SBV's policy objectives comprise supporting growth while keeping the level of inflation below real gross domestic product (GDP) growth. SBV stabilizes interest rates through its re-finance rate, discount rate, base rate, and reserve-requirement ratio. Adjustments to the base rate are mainly used for policy actions.

The State Securities Commission (SSC) is responsible for capital markets development and the issue and enforcement of regulations. Once an independent body, SSC was placed under the management of the Ministry of Finance (MOF) in March 2004. SSC is responsible for licensing securities companies, advisers, securities investment funds, fund managers, and securities depositaries and custodians.

MOF oversees the issuance of government bonds and determines the amount to be issued. MOF is also responsible for drafting regulations and guidelines on taxation and accounting, and administering their implementation.

The Ho Chi Minh Stock Exchange (HOSE) and the Hanoi Securities Trading Center (HASTC) are legal, financially self-managed entities under the regulation and supervision of SSC.

The State Bank of Viet Nam (SBV) is the Government’s central bank. All borrowing and lending activities are regulated by SBV, which is also responsible for regulating the credit institutions participating in the securities market.

Details of initiatives to enhance the legal and regulatory framework of capital markets in Viet Nam can be viewed at the Policy Initiatives and Reforms section.