Fitch Ratings gives positive assessment of Việt Nam’s economic fundamentals

Fitch Ratings gives positive assessment of Việt Nam’s economic fundamentals

Fitch Ratings has praised Việt Nam’s macroeconomic resilience and policy management, saying continued reforms and stable growth will support the country’s sovereign credit outlook.

The Bitexco Financial Tower (right) in HCM City. — VNA/VNS Photo

Fitch Ratings has given a positive assessment of Việt Nam’s economic fundamentals, highlighting the country’s macroeconomic stability and resilience amid continuing global uncertainty.

Deputy Minister Trần Quốc Phương recently held a working session with a delegation of Fitch Ratings experts as part of the agency’s 2026 sovereign credit rating assessment programme for Việt Nam.

At the meeting, Phương acknowledged Fitch Ratings’ long-standing support through its independent and objective analyses of Việt Nam’s economy over the years.

He said Fitch’s credit assessments have helped strengthen Việt Nam’s image and credibility in international financial markets, while encouraging the country to continue strengthening institutions, enhancing policy management efficiency and increasing economic transparency.

The Vietnamese Government remains committed to maintaining macroeconomic stability, reinforcing major economic balances and improving resilience against external shocks, the deputy minister said.

Despite ongoing global volatility, Việt Nam continues to pursue proactive and flexible policy management, with close coordination between fiscal and monetary policies to support growth while ensuring macroeconomic stability and inflation control, he added.

George Xu, director of Asia-Pacific Sovereign Ratings at Fitch Ratings, praised Việt Nam’s macroeconomic management efforts amid rising international economic risks and uncertainties.

He noted that the country has maintained positive growth momentum, macroeconomic stability and relatively well-controlled inflation control despite mounting external pressures.

The Fitch Ratings delegation also expressed interest in Việt Nam’s measures to control inflation, ensure energy security, sustain economic growth and accelerate institutional reforms and improvements to the investment climate.

They also sought updates on the country’s medium-term growth outlook, fiscal policy, public debt management, foreign investment attraction and the restructuring of State-owned enterprise.

Phương said that in response to energy price fluctuations and geopolitical tensions in the Middle East, Việt Nam has implemented a range of measures, including market stabilisation tools, tax policy adjustments, stronger market supervision and diversification of fuel supply sources.

He said the ministry would continue monitoring global economic and financial developments to formulate appropriate policy scenarios should international conditions become more complicated.

Việt Nam is reviewing and updating its growth scenarios to meet its 2026 development targets, with the Government focusing on removing investment bottlenecks, improving the business climate, accelerating public investment disbursement and attracting more foreign and domestic private investment, he added.

Despite global economic headwinds, foreign direct investment inflows into Việt Nam have remained positive in recent months. The country is also continuing efforts to reform State-owned enterprises through restructuring and divestment to improve efficiency, transparency and governance capacity.

Fitch Ratings representatives also commended Việt Nam’s policy orientation, particularly its efforts to maintain macroeconomic stability amid global economic turbulence.

According to Fitch, Việt Nam’s continued commitment to institutional reform, investment climate improvement and stronger fiscal governance will remain key factors supporting the country’s sovereign credit outlook in the coming period.

The Ministry of Finance said both sides agreed to maintain regular exchanges and strengthen information sharing to support the sovereign credit rating assessment process and improve Việt Nam’s reputation and access to international capital markets. 

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