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ARTICLE · 16 FEBRUARY 2023

Primer For Private Credit In Vietnam - Top 10 Issues

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There has been a significant uptick in interest from private credit in Vietnam over the past several months driven both by events in Vietnam and the backdrop of the global economic context.

GlobalFinance and Banking
David Harrison
David Harrison
Pierre Dzakpasu
Pierre Dzakpasu
Qin Sue Koh
Qin Sue Koh
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There has been a significant uptick in interest from private credit in Vietnam over the past several months driven both by events in Vietnam and the backdrop of the global economic context. This primer for private credit in the form of a top 10 issues list is designed to assist credit funds at a high level in evaluating opportunities in the Vietnam market.

  1. Historically, a crowded and competitive playing field for offshore US dollar lending.

    Since Vietnam opened its doors to foreign investment in the 1990s, Vietnam has been an active market for a wide range of lenders, including commercial banks (many of which have branches or subsidiaries in Vietnam), as well as bilateral development finance lenders and multilateral financial institutions. This competitive market has resulted in downward pressure on fees and margins which - to date - has made the Vietnam market challenging for private credit funds to achieve their target returns.

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