2017 was a record-breaking year for Vietnam's economy, driven by the manufacturing and export sectors that performed strongly last year. The recent signing of the Comprehensive and Progressive Trans-Pacific Partnership agreement (CPTPP) brings exciting opportunities for Vietnam as it expands free trade and enhances sustainable economic development.
Vietnam’s positive outlook has led Fitch Ratings to upgrade its long-term foreign currency issuer default rating for Vietnam to ‘BB’ from ‘BB-‘ on the back of the country’s improving policies focused on strong macroeconomic performance. According to Fitch, the country’s GDP growth accelerated to 6.8% in 2017 and looks set to grow by another 6.7% this year.
In spite of increased trade protectionism and threats of a trade war between the US and China, it may add to Vietnam's allure as a global manufacturing hub. The country's financial markets are also set to benefit from a growing economy. Traditionally reliant on bank loans, Vietnamese corporates are increasingly turning to capital markets for funding.
Organized in association with Fitch Ratings, the forum will timely highlight discussions on how Vietnam is transforming itself into an emerging market from its current frontier status as well as the opportunities and challenges such transformation brings.