R&I upgrades Viet Nam’s foreign-currency issuer rating to BBB-
VGP - Rating and Investment Information (R&I), Japan’s leading rating agency, on Thursday raised Viet Nam’s foreign-currency issuer rating to BBB- from BB+, with a stable outlook, making it the first agency to assign the country an investment-grade rating.
The decision reflects optimism about Viet Nam's economic trajectory. The agency expects strong growth to continue following a roughly 9 per cent expansion in the first nine months of 2026, supported by public investment, foreign capital and structural reforms.
R&I gave a positive assessment of Viet Nam's comprehensive reform agenda, expecting that the consistent implementation of reform measures will help the country sustain high growth on a more stable basis.
Regarding fiscal policy, R&I noted that Viet Nam's public debt-to-GDP ratio remains relatively low, providing fiscal space to increase development investment spending.
Regarding the external sector, R&I noted that Viet Nam continues to run a current account surplus, sustain foreign direct investment inflows, and maintain a relatively low external debt burden, all of which support the country's resilience to external shocks.
Amid continued volatility and challenges in the global economy, the Ministry of Finance said the upgrade affirms Viet Nam's solid macroeconomic fundamentals, sustained efforts to achieve high and sustainable growth, prudent public debt management, and far-reaching reforms.
The upgrade further strengthens Viet Nam's credit standing in international markets, boosts investor confidence, and creates more favorable conditions for mobilizing long-term resources to support socio-economic development./.