Vietnam Business Channel

S&P raises Vietnam’s outlook and ratings to 'positive'

Workers of a state-owned company at a construction site in Hanoi / Photo from Reuters.

Global credit reporting company, S&P Global, has maintained Vietnam’s sovereign credit rating but raised its outlook from "stable" to "positive" thanks to the country’s effective measures to contain Covid-19.

According to a statement from the Ministry of Finance, the decision by S&P last Friday makes Vietnam the first country in the world with a "positive" outlook from all three major credit ratings companies – Fitch, Moody’s and S&P – since the global COVID-19 pandemic began last year.

The reason for the decision is the country's notable economic development and reforms in policies amid the ongoing Covid-19 pandemic, which has made socio-economic impacts.

With last year’s GDP growth among the world’s highest, Vietnam is set to achieve firm recovery in one or two years thanks to the effective solutions of the government in containing the spread of Covid-19.

The country remains among the top destinations in Southeast Asia in attracting foreign direct investment, with stable exports growth and strong domestic demand.

The Vietnamese government has said that will continue to pursue its dual strategy of maintaining economic growth while combating the COVID-19 pandemic.

 

 

 

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