Fitch Ratings has rated Vietnam with ‘positive’ outlook

On April 1, Fitch Ratings announced the rating of Vietnam’s ceiling for long-term foreign currency deposits at BB and raised the outlook from “stable” to “positive”.

Fitch Ratings, according to a representative of the Ministry of Finance, raised the outlook to “positive”, reflecting the ability of Vietnam, one of the few economies to recover in the Asia-Pacific region, to recover growth belongs to the group of BB countries that can maintain positive growth at 2.91% by 2020 in the context of the Covid-19 pandemic.

Specifically, Fitch Ratings recognized Vietnam’s fiscal and public debt achievements, the Government’s success in controlling the Covid-19 quickly from the first day along with timely support policies to restore socio-economic activities. Vietnam’s outstanding performance was also attributed to strong export demand, external financial position continued to strengthen thanks to a constant current account surplus and increased foreign exchange reserves.

In addition, the organization forecasts Vietnam’s growth rate of about 7% in 2021-2022 and the global economic recovery momentum helps maintain export growth, normalize domestic economic activity and The Government will continue to successfully prevent the Covid-19 outbreak.

Artwork: Minh Son / Vietnam +.

Along with that, Fitch Ratings said that Viet Nam’s efforts to maintain macroeconomic stability, strive for a high growth rate, reduce the gap in GDP per capita compared to other countries in the same ranking, and improve Moreover, public finance through sustainable fiscal consolidation and debt stability in the medium term will be positive factors to further improve the national credit rating in the coming time.

Before that, Moody’s also raised two levels of prospects for Vietnam, which has never been a precedent in its global credit rating since the Covid-19 pandemic. The fact that Fitch Ratings raised the outlook for Vietnam demonstrates the confidence rating agencies have in the Government’s effective policy management, strong growth prospects as well as increasingly solid fiscal space.

According to a representative of the Ministry of Finance, the improvement in the national credit rating outlook is the result of the active implementation of measures to stabilize the macro-economy, strengthening the Party’s financial-banking system, The National Assembly and the Government are also the results of ministries and agencies in explaining, exchanging and sharing updated information with Fitch Ratings.

“The Ministry of Finance believes that Fitch Ratings, credit rating agencies as well as other international organizations will have complete information and an authentic basis to give a positive and positive view of the credit profile of Vietnam, ”said a representative of the Ministry of Finance.

Source: ndh.vn – Translated by fintel.vn