After experiencing a number of negative incidents at the end of 2022, Vietnam’s corporate bond market has almost become frozen and responsibility for providing capital to the economy has largely fallen on the banking system, putting pressure on system safety, as seen in 2011 and prior. The need to consolidate banking and financial markets is becoming extremely urgent. The government should consider removing or applying investment conditions on corporate bonds to five groups of institutional investors, including credit institutions, insurance companies, investment funds, voluntary pension funds, and investors managed by the government.