Vietnam is stepping up efforts to secure a sovereign credit rating upgrade and deepen access to global capital, with HSBC expected to play a key advisory role in the process.

Minister of Finance Nguyen Van Thang has held a meeting with Michael West, President of Moody’s Ratings, to discuss measures for improving Vietnam’s national credit rating, the Ministry of Finance (MoF) reported.

Fitch Ratings has upgraded Vietnam’s senior secured long-term debt instruments from BB+ to BBB-, according to the Ministry of Finance.

VOV.VN - Over more than a decade, credit rating activities have played a crucial role in enhancing transparency in the capital market, thereby promoting the safe, sustainable, and sophisticated development of this market.

Vietnam's total state budget revenue for 2024 is projected to surpass VND2.02 quadrillion (approximately US$79.24 billion), marking an increase of 19.1% compared to the estimate, according to the Ministry of Finance.

The Ministry of Finance announced on December 24 that it had coordinated with relevant ministries and agencies to issue certificates of eligibility for providing credit rating services to five enterprises as of December.

Vietnam's national credit rating is making significant strides toward achieving the official 'Investment' ranking.

The US’s S&P Global Ratings affirmed its 'BB+' long-term and 'B' short-term sovereign credit ratings on Vietnam, with a “stable” outlook on the long-term rating, the website disclosure.spglobal.com reported on June 20.

Credit ratings agency Fitch Ratings has recently revealed upgrades for several banks, in the wake of its decision to raise Vietnam's national credit rating to BB+ with a long-term outlook of "Stable".

International credit rating agency Moody’s has recently adjusted the credit rating outlook of Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) from "stable" to "positive".