US Moody’s representative: Vietnam still attractive to investors

Thomas Byrnes is on a working visit to Vietnam to learn about the Vietnamese government’s measures to cope with the global financial crisis. The US company’s representative was received by Permanent Deputy Prime Minister Nguyen Sinh Hung in Hanoi on Apr. 2. Deputy PM Hung spoke highly of Moody’s comments.

He said since late 2008, Vietnam has been heavily affected by the global economic crisis, but the government has kept the situation under control, attracting more than 60 billion USD in foreign direct investment and more than 10 billion USD in ODA, recording a 18 percent increase in export value and 30 percent increase in budget revenues compared to 2007.

In the first quarter of this year, the country achieved a growth rate of 3.1 percent, Hung said, adding that Vietnam is focusing on consumption stimulation, rural infrastructure development, education and support for the poor. The Vietnamese government bond market can guarantee its solvency, he said. Moody’s is a worldwide prestigious company in credit rating, research and risk analysis.