Hanoi (VNA) – The Ministry of Finance (MOF) reported on September 23 that it recently teamed up with the State Bank of Vietnam to hold a non-deal roadshow in the US, pitching the country to international investors without selling a single bond.
The roadshow ran alongside a broader US trip by General Secretary of the Communist Party of Vietnam Central Committee and President To Lam for the high-level general debate of the United Nations General Assembly's 81st session and a round of bilateral meetings.
The pitch was to bring global investors up to speed on Vietnam's macroeconomic outlook, its fiscal and monetary policy direction, and how it plans to manage public debt.
The timing wasn't incidental. The investor push came alongside high-level diplomatic activities, meant to signal Vietnam's strong commitment to reform and deeper integration with global markets.
In an interview recently granted to Bloomberg Television and at meetings with US business leaders, General Secretary and President Lam pledged to press ahead with reforms, overhaul institutional mechanisms, and build the most transparent, investor-friendly climate for international financial institutions and investors.
The Vietnamese Party and State leader's consistent message on balancing economic interests while lifting the country's financial standing is now the guiding line for Vietnam's debt management and investor-outreach strategy, the ministry said.
On the ground, the delegation met with major institutional investors, including large asset management and hedge funds.
Ministry officials walked investors through Vietnam's growth outlook and plans to diversify how it raises capital, while gauging sentiment and appetite for Vietnamese Government debt.
Investors praised Vietnam's macro-stability and long-term growth potential, and credited the ministry for improving transparency, according to the MOF. That feedback will shape how Vietnam next taps international capital markets.
The delegation also sat down with Elisa Parisi-Capone, Vice President and Senior Analyst at Moody's Sovereign Risk Group in New York, part of a regular engagement programme under the 2010 sovereign credit rating agreement.
Moody's affirmed Vietnam's Ba2 rating in May and lifted its outlook to "positive" from "stable", citing durable growth, robust trade, steady foreign direct investment (FDI), a comparatively light government debt load, strong repayment capacity, and improving institutional and governance quality.
At the latest meeting, the Vietnamese officials briefed Moody's on the economy, budget, public debt and institutional reforms and on the Government's push to keep macro-economic stability while chasing a double-digit expansion target.
Moody's hailed the Vietnamese Government for navigating global volatility, reiterating a positive view on the country's medium-term outlook.
Further upside for the rating will hinge on Vietnam speeding up institutional reforms and reining in risks in the banking sector and state-owned enterprise debt, Moody's said.
Separately, Minister of Finance Ngo Van Tuan met with J.P. Morgan to discuss strategic ties, with the bank positioned as an adviser as Vietnam builds out its capital markets and pushes for fuller integration with the global financial system./.
