Containers are loaded at Cat Lai port, Ho Chi Minh City. (Photo: VNA)

In a commentary published on its website on October 28, Fitch Ratings said Vietnam's rating reflects its strong medium-term growth prospects, lower government debt compared to peers, and favorable external debt profile.

It expects growth of 7.4% in 2022, led by strong gains in industry, construction and services, and partly from base effects. High FDI in manufacturing should continue to support robust growth in the medium term.

Fitch forecasts a slowdown in GDP growth, to 6.2% in 2023.