Moody’s has revised its outlook for Vietnam from “stable” to “positive,” citing increased confidence in the country’s ability to strengthen its credit profile over the medium term. Vietnam’s credit rating was affirmed at Ba2. The agency highlighted improvements in institutional quality and governance, thanks to reforms implemented since late 2024. It also noted a reduction in risks related to potential trade measures from the United States compared to previous expectations.

In April, FTSE Russell announced plans to upgrade Vietnam’s status from a frontier market to an emerging market in September, placing the country alongside markets such as India and China. This decision followed the implementation of market-friendly reforms in the Southeast Asian nation.

Also in April, a representative from S&P Ratings stated that Vietnam is expected to remain one of Asia’s fastest-growing economies after India through 2028. However, it was noted that a significant increase in government spending could lead to a higher budget deficit.