International organizations positively assess Vietnam’s credit prospects

Improving the credit rating is not only a matter of enhancing the country’s reputation, but also opening up more diversified capital access channels, lower borrowing costs and strengthening the external financial position of the country. .

The Star newspaper is interested in the goal of “Project on improving the national credit rating by 2030” of Vietnam. That is, by 2030, achieve a credit rating of Baa3 (for Moody’s) or BBB- (for S&P and Fitch) or higher.

The article emphasizes the main solutions to accomplish this goal. These include building a strong public finances, improving debt ratios and promoting fiscal consolidation.

Present international credit institutions There are very positive reviews about Vietnam in the long term. Credit rating agency Fitch is rating Vietnam at “BB” with a “Positive” outlook.

International credit institutions have positively assessed Vietnam’s national credit. Illustration – Photo: Dan Tri.

Fitch affirmed that Vietnam’s medium-term growth outlook continues to be optimistic despite the COVID-19 pandemic and the global economic impact from the conflict in Ukraine. Vietnam economy reaching 6.1% this year and 6.3% in 2023.

Previously, credit rating agency S&P also kept Vietnam’s national credit rating unchanged, raising its outlook from Stable to Positive. S&P made its decision based on economic developments despite the COVID-19 pandemic, as well as improvements in policymaking.

“From 2013 to 2021, Vietnam’s credit rating has always been in an upward trend. Specifically, increasing from B2 to Ba3 according to Moody’s assessment, from BB- to BB according to S&P’s assessment and from B + to BB according to Fitch’s assessment.Currently, all 3 rating agencies rate Vietnam as having a positive outlook and this very accurately reflects the long-term growth prospects as well as the expected recovery of the economy. “, said Mr. Olivier Rousselet – Country Director of BNP Paribas Vietnam.

According to experts, it can normally take 4 – 10 years to get a BBB investment rating from a BB rating. Time is fast or slow depending on the overall structural and economic reforms.

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