Vietnam seeks stronger cooperation with Fitch Ratings to improve sovereign credit rating
On October 12 at the Ministry of Finance Minister of Finance Ngo Van Tuan met with Ian Linnell president of international credit rating agency Fitch Ratings to discuss Vietnam s sovereign credit profile and macroeconomic growth prospects
Vietnam is seeking to strengthen its cooperation with Fitch Ratings in order to improve its sovereign credit rating, according to a recent meeting between Vietnamese Minister Tuan and Fitch Ratings' Linnell. Minister Tuan highlighted Vietnam's ambitious goal of achieving at least 10% annual GDP growth and emphasized the need for capital mobilization to reach around 40% of GDP.
Fitch Ratings currently provides credit ratings for 17-19 major organizations in Vietnam, and the agency is considering opening a representative office there. Both countries express confidence in Vietnam's future, citing strong macroeconomic growth, increasing foreign direct investment, and promising investment market outlook. Vietnam is also preparing conditions for potentially issuing international bonds, with the aim of optimizing costs and improving resource efficiency.
Fitch Ratings has recently upgraded Vietnam's credit rating to investment grade and praised the country's positive macroeconomic growth.
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