Viet Nam outlook stable, says Standard and Poor’s

15/09/2007 -- 9:07 PM

Ha Noi (VNA) – The US-based Standard and Poor's (S&P), a global leader in credit ratings and credit risk analysis, has said that the economic outlook for Viet Nam was stable but warned of continuing structural impediments in the Southeast Asian country. The ratings agency affirmed its BB/B foreign currency and BB+/B local currency sovereign credit ratings for Viet Nam, a developing country now experiencing more than eight percent annual economic growth. "The stable outlook on the ratings encompasses our expectation that the momentum of structural reforms in Viet Nam will be sustained in the near term," the agency said in a statement released from Singapore. "This will further strengthen investor confidence in the country and help maintain high rates of economic growth," the agency said. However, S&P warned that in the country's partially reformed economy "productivity is held down by structural impediments and the lack of a sophisticated legal and regulatory system." S&P credit analyst Kim Eng Tan said that the ratings on Viet Nam reflect its low-income economy and developing financial system, which increase the vulnerability of the economy to severe shocks that could significantly increase the public financial burden.-Enditem
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