Prime Minister Pham Minh Chinh (R) meets Global Chief Commercial Officer at S&P Global Ratings Lynn Maxwell, Ha Noi, February 26, 2025 - Photo: VGP

Pham hailed S&P Global Ratings' positive assessment of the Vietnamese market, as well as its practical and effective contributions to Viet Nam's economic development and Viet Nam–U.S. relations.

Viet Nam is striving to improve its rating under S&P's assessment and wishes to strengthen cooperation with S&P in a more effective and closer manner, said the Prime Minister.

He urged S&P to conduct an objective evaluation and consider upgrading Viet Nam's sovereign credit rating based on a true reflection of the country's situation.

Additionally, he suggested S&P promote knowledge-sharing on credit rating assessments for government agencies and businesses, helping Viet Nam formulate and implement strategies to enhance its rating, thereby facilitating deeper and more effective international integration.

The Prime Minister requested S&P to support the strengthening of sustainable economic, trade, and investment cooperation between Viet Nam and the U.S.

He also called for S&P's support so that the U.S. would remove Viet Nam from its list of countries with restrictions on high-tech exports and recognize Viet Nam as a market economy.

Maxwell, for her part, expressed her interests in public-private partnership (PPP) projects in Viet Nam, adding that S&P Global is deeply involved in credit rating activities for infrastructure projects, particularly those related to PPP, as well as green bonds and green transition initiatives for businesses in line with international standards.

She also shared information about S&P Global's collaboration with leading credit rating firms in Viet Nam. Through this cooperation, S&P has gained a deeper understanding of Viet Nam, particularly in infrastructure development.

S&P is committed to accompanying Viet Nam to contribute the development of the Southeast Asian country's financial market, and enhance investors' confidence in credit ratings, she emphasized.

S&P Global is one of the world's leading corporations in providing data, analytics, and financial assessments. It operates in over 128 countries and has the largest market capitalization in the financial information industry, valued at US$167 billion.

In June 2024, it affirmed its 'BB+' long-term and 'B' short-term sovereign credit ratings on Viet Nam, with a "stable" outlook on the long-term rating./.