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S&P upgrades Vietnam ratings

Trường Lăng
Trường Lăng, founder and 15-year director of Viettonkin, guides the company's strategic direction, makes top-level decisions, and represents the firm in key business negotiations. With over 20 years of consulting experience in Belgium and Southeast Asia, including 15 years specializing in FDI projects, he has established himself as a top expert who helps clients across industries expand their businesses. His deep knowledge of risk management and business operations, combined with his proven track record of successful consultation projects, makes him a valuable partner for investors seeking quality consulting services.

S&P Global Ratings has upgraded Vietnam’s currency sovereign credit ratings to ‘BB+’ with a stable outlook, demonstrating that Vietnam’s economy would keep recovering from Covid impacts.

"We raised our sovereign ratings on Vietnam to reflect our view of improvements in the government's administrative processes," S&P stated Thursday.

In recent years, the government had implemented measures that helped close the gap on lapses in repaying guaranteed debt.

The ratings upgrade is also supported by Vietnam's robust economic prospects and sound external position. Vietnam continued to attract strong foreign direct investment (FDI) flows, despite pandemic disruptions.

"We expect export-led growth and strong investment to keep the economy's trend growth rate well above the average of its peers," S&P said.

Vietnam's gross domestic product (GDP) per capita has risen quickly in the past few years from a relatively low base, and the ratings agency expects GDP per capita in 2022 to reach $3,868, against the country’s target of $3,900.

S&P forecasts GDP growth to hit 6.9 percent this year (compared to 2.6 percent last year), adding that the country would likely grow 6.5-7 percent from 2023 onward.

"Vietnam's attractiveness as a premier destination for foreign direct investment in Southeast Asia, along with its young, increasingly educated, and competitive workforce, should help keep the country's long-term development trajectory intact despite temporary labor market disruptions from Covid-induced lockdowns."

But the ratings agency said that risks to economic growth are tilted toward the downside, because Vietnam's export-led economy relies on strong external demand.

Rising inflation and financing conditions, as well as geopolitical risks, could dampen global growth and reduce demand for Vietnamese exports, it added.

Source : VnExpress

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Unlock Vietnam's Market: Download Our Comprehensive FDI eBook Now!

Vietnam is emerging as a prime destination for foreign direct investment (FDI), driven by rapid economic growth, favorable government policies, and an investor-friendly business environment. This eBook provides a deep dive into Vietnam’s economic landscape, highlighting key industries such as manufacturing, real estate, and digital banking that attract FDI. It also explores the government’s proactive measures to streamline investment procedures, improve infrastructure, and offer tax incentives for foreign enterprises. Additionally, it covers crucial insights into market entry strategies, regulatory requirements, and socio-cultural factors that influence business success in Vietnam.


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