HANOI, Nov. 23 (Xinhua) -- Vietnam's corporate bond market has recovered significantly in recent months after the shocks caused by violations in issuance of bonds by real estate developers, Vietnam News reported Thursday.

The market started to see positive signs from the second quarter of this year with increases in bond issuance volume, the newspaper quoted Nguyen Hoang Duong, deputy director of the Banking and Financial Institutions Department under the Ministry of Finance, as saying.

He cited that about 70 enterprises issued bonds worth 180.4 trillion Vietnamese dong (7.6 billion U.S. dollars) in the first 10 months of this year and bought 190.7 trillion dong (7.8 billion dollars) of bonds before maturity, an increase of 30.3 percent over the same period last year.

The market was recovering thanks to the government's drastic policies and changes in market participants, he said.

The corporate bond market in Vietnam has been frozen after violations in issuance by some big real estate developers.

The Vietnamese government took drastic measures to stabilize the macro-economy and operate fiscal and monetary policies with flexibility to support production and business, enabling enterprises to have cash flow for debt repayment.

The Southeast Asian country's total amount of corporate bonds issued in the first 10 months of 2023 was over 209.15 trillion dong (8.61 billion dollars), according to the Vietnam Bond Market Association. Enditem

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