Standard Chartered Bank (SCB) of the UK will advise on improving Vietnam ’s sovereign credit rating.

An agreement to this effect was signed in Hanoi on Mar. 22 between the bank and the Ministry of Finance.

Under the agreement, SCB will help the Finance Ministry to work with rating agencies to ensure a better understanding of Vietnam ’s socio-economic development. It will inform Vietnam about its experience with other countries in credit rating and give recommendations to Vietnamese agencies on provision of information to rating agencies on Vietnam , in order to achieve optimum credit ratings.

Speaking at the ceremony, Finance Minister Vuong Dinh Hue highly appreciated the SCB assistance and hoped this will be an important beginning in implementing the memorandum of understanding between the Finance Ministry and the UK ’s Foreign and Commonwealth Affairs Office.

These measures also highlight efforts by the Finance Ministry and the UK , including SCB, to boost financial cooperation./.