Hanoi (VNA) – The Finance Ministry said on September 6 that Moody’s InvestorsService has upgraded Vietnam’s long-term issuerand senior unsecured ratings to Ba2 from Ba3 and changed the outlook to stablefrom positive.
The ministry said the upgrade to Ba2 reflects the assessment by Moody's that Vietnam's economy has growing strengths and greater resilience to external macroeconomic shocks that are indicative of improved policy effectiveness.
Moody's expects the situation would continue as the economy benefits from supply chain reconfiguration, export diversification and continued inbound investment in manufacturing.
The rating also reflects a sounder fiscalfooting backed by contained borrowing costs, a conservative approach to fiscalpolicy and improved government liquidity, driven by the ongoing transition fromexternal concessional borrowing toward longer-dated, low-cost domestic marketfinancing, said the ministry.
Amid complicated developments in the world in thepast eight months, Vietnam is the only in Asia-Pacific and one of the fourcountries globally to have ratings upgraded by Moody’s since early this year./.
