Vietnam's State Treasury raised only 90 billion dong ($3.4 million) in its weekly government bond auction on Wednesday, the lowest so far this year and down from $167 million raised last week.
The uptake was also lower, with less than 1% of the bonds on offer sold compared with 26% last week, according to a Hanoi Stock Exchange filing.
The treasury sold 90 billion dong out of 500 billion dong of 3-year bonds on offer, at a coupon of 3.55%.
It failed to offload any of the 5 trillion dong of 5-year bonds, the 9 trillion dong of 10-year bonds, the 1 trillion dong of 15-year bonds and the 500 billion dong of 30-year bonds on offer.
The government aims to raise 500 trillion dong from bond sales this year. So far it has raised 171 trillion dong.
Vietnamese companies have raised 180 trillion dong via bonds this year up to June 26, according to bond market association data.
The total value of corporate bonds maturing during the remainder of this year is 119 trillion dong.