The largest rating agency headquartered in Japan, Rating and Investment Information, Inc. (R&I), has upgraded Vietnam’s foreign currency issuer rating from BB+ with a positive outlook to BBB- with a stable outlook, elevating the country into "Investment Grade" status for the first time, the Ministry of Finance announced on October 8.
According to R&I, Vietnam has maintained strong economic growth momentum, outperforming other Southeast Asian nations. Ongoing government reforms—focused on streamlining the state apparatus, promoting the private sector, improving the institutional framework, and developing capital markets—are expected to strengthen the country's growth potential and economic resilience.
On the fiscal front, R&I noted that Vietnam’s public debt-to-GDP ratio remains relatively low, providing fiscal space to increase development investment spending. Regarding external economics, the agency highlighted Vietnam's continued current account surplus, sustained foreign direct investment (FDI) inflows, and a relatively low external debt burden, which bolster resilience against external shocks.
According to the Ministry of Finance, the milestone marks a significant step in Vietnam's reform process and national credit enhancement amid ongoing global economic volatility and challenges. The upgrade reinforces Vietnam’s credit standing in international markets, enhances investor confidence, and creates more favorable conditions for raising long-term resources for socio-economic development.
