Vietnam revises national credit rating improvement plan to 2030

Vietnam has revised its national credit rating improvement plan through 2030 via Decision No. 1919/QD-TTg. Signed by Deputy Prime Minister Nguyen Van Thang, the updated plan emphasizes innovation, science, technology, and digital transformation to drive economic growth.

The government aims to elevate Vietnam's sovereign credit rating to investment grade by 2030, targeting a rating of at least Baa3 from Moody's or BBB- from S&P and Fitch. Achieving this is intended to reduce borrowing costs and national credit risks.

Key macroeconomic targets for the 2026-2030 period include: • An average annual GDP growth rate of at least 10%. • A GDP per capita of approximately $8,500 by 2030. • Total social investment averaging around 40% of GDP, with public investment accounting for 20-22%. • Maintaining a budget deficit of approximately 5% of GDP and keeping public debt below 60% of GDP.