TOKYO: The Japanese owner of the international clothing retailer Uniqlo is anticipated to break the record profit set by last year when it releases results on Thursday( Oct 12 ), taking advantage of a recovery in China and the yen’s decline. As business in China, its largest international market withContinue Reading
An export restrictions agreement meant to keep Seoul in line with Washington’s larger tech war against China will allow North Korean tech companies to send American chip-making tools to their factories in China without getting agreement from US authorities.
The US Commerce Department is updating its” validated close person” list, according to South Korea’s presidential office, on Monday( October 9) to enable chipmakers Samsung and SK Hynix to provide specific US chip-making devices to their China-based production facilities for an indefinite period.
Which entities may get exports of which technology is particularly indicated on the list. Companies on the list are exempt from licensing requirements in order to deliver US software products to China. & nbsp,
In response to the US news, Choi Sang-mok, South Korea’s senior political minister for economic matters, stated that” difficulties about North Korean silicon firms’ operations and investments in China have been greatly eased.” & nbsp,
On the other hand, Foreign critics were less than enthusiastic about the carefully considered US choice. & nbsp,
An unknown investment in the chip industry stated to the Economic Observer in China on Tuesday that the US’s most recent decision should not be interpreted as a rest of the nations’ device export restrictions against China. To suggest that the US will remove its chip limits for Chinese chipmakers is premature.
He pointed out that North Korean chipmakers operate independently on the mainland of China and do not frequently collaborate or interact with native Taiwanese manufacturers. The US statement, according to him, will only strengthen economic ties between China and South Korea and lessen geopolitical tensions in the area. & nbsp,
According to a Chinese device expert, the US statement aims to lessen the damaging effects of its sanctions against China on the two South Korean companies, which are powerful negotiators because of their dominance in the memory chip industry. & nbsp,
As of the end of June this year, Samsung and SK Hynix jointly held a 50 % share in the global NAND flash market and 70 % share, according to market intelligence provider Trendforce.
Currently, Samsung manufactures 40 % of its NAND chips at its Xi’an, China, plant, compared to SK Hynix’s 20 % and 40 % DRAM chips, respectively, in Dalian and Wuxi.
DRAM chips, which are typically used in gadgets to speed up getting, lose the data they store when the power is turned off. NAND cards, which are primarily used in USB memory sticks and painful drives, can store data without power.
In an article, a Hubei-based author with the last name Wu asserts that the US wants North Korean businesses to outdo their Chinese competitors by pouring their memory chips into Chinese markets.
” The US forbade all China-based chipmakers, with the exception of South Asian ones, from obtaining its chip-making machinery.” What caused it to do that? Wu claims. ” The US may want to use South Korean companies to reduce China’s semiconductor business ,” we may be warned.
He claims that the US wants to support North Korean businesses in order to drive out Chinese rivals after realizing that its limits had failed to stop China from grooming its unique chipmakers over the past few years. He asserts that in the 1980s, the US employed the exact strategy to stifle Japan’s chip industry. & nbsp,
In order to give local chipmakers and their vendors enough money to survive and expand their businesses, he adds, China should promote its state-owned enterprises to purchase Chinese chips. & nbsp,
The Bureau of Industry and Security ( BIS ) of the US Commerce Department put a number of new restrictions on China’s chip industry on October 7 of last year. At the time, it stated that in order to receive US chip-making tools, any China-based chip factory that produces DRAM cards of 18 micrometers or less or NAND flash memory cards with 128 layers or more must apply for a certificate. In addition, & nbsp,
It stated that while services owned by multinational corporations will be decided on a case-by-case schedule, those held by Chinese institutions will likely be denied.
The US government after granted Samsung and SK Hynix a one-year waiver to remain shipping US goods to China in response to their opposition. Media reports in late August claimed that the US would prolong the exemption, which was set to expire on October 11th. The ban has now been lifted indefinitely by the two Vietnamese companies. & nbsp,
The US choice, according to Samsung, will considerably allay concerns about how its chip factories in China will operate. However, SK Hynix stated that the choice will contribute to stabilizing global semiconductor products.
The two biggest memory chip producers in China are Yangtze Memory Technologies Corp ( YMTC ) and ChangXin Memory technologies( CXMT ). According to reports, YMTC is able to produce 232-layer NAND chips( the more layers there are, the more store there is on a memory chip ). Now, CXMT may produce 19nm DRAM chips. & nbsp,
In contrast, Samsung has begun mass-producing 236-layer NAND fries and plans to do so in 2024. In order to make 321-layer Switch cards in the first half of 2025, SK Hynix is currently producing 10nm DRAM bits and 238 – layerNAND chip. & nbsp,
According to some Chinese critics, Samsung and SK Hynix can then increase their China-based creation and possibly launch a price war to take over China’s market. They claimed that several Chinese manufacturers of digital goods might try to use South Asian chips, which are typically of higher quality than those produced in China. & nbsp,
Huawei Technologies unveiled the Mate60 Pro, its flagship handset, on August 29. Its Kirin 9000s computer was a self-developed model. & nbsp,
The Kirn 9000s is a 7nm chip made by China’s top chipmaker Semiconductor Manufacturing International Corp( SMIC ), according to Canadian research firm TechInsights. Additionally, it claimed to have discovered two SK Hynix chips — a DRAM and a NAND chip — in the Mate60 Pro.
According to public data, SK Hynix’s DRAM and NAND chips could be produced at speeds of 50 % and 100 %, respectively, faster than those of CXMT and YMTC.
Read: The US extends the China device pavement waiver for the fabs of the allies.
@ jeffpao3 Follow Jeff Pao on Twitter at & nbsp.
A pandemic-driven growth has dampened demand for the majority of consumer products due to a global economic slowdown and high interest rates, forcing chipmakers to reduce production in an effort to stop falling prices. However, experts predicted that in the fourth quarter, Samsung’s storage chip business lost about$ 3 trillionContinue Reading
Circular’s overall value is now US$ 30 million thanks to money.Will expand & nbsp, products in Singapore, hasten expansion in AustraliaCircular, a subscription service backed by Y Combinator that specializes in high-end consumer electronics, has successfully shut down its seed & nbsp, round & nBsP, of$ 7.6 million. Investors from YC…Continue Reading
Circular’s overall evaluation now stands at US$ 30 million thanks to money.Funds will be donated to & nbsp, which will expand its offerings in Singapore and Australia.Circular, a subscription service that specializes in high-end consumer electronics and is supported by Y Combinator, has successfully closed its seed funding round and secured…Continue Reading
In order to stop the Chinese tech giant from gaining access to device production resources and chip design tools, US Republican lawmakers are urging the Biden administration to tighten its sanctions against Huawei and SMIC. & nbsp,
US House Foreign Affairs Committee Chairman Michael McCaul and House Select Committee on China Chairman Mike Gallagher demanded” full limiting” restrictions against Huawei after US Commerce Secretary Gina Raimondo said on October 4 that reports of Huawei’s most recent 7-nanometer device find were” very troubling.” & nbsp,
The Bureau of Industry and Security ( BIS ) of the Commerce Department, according to a letter to National Security Advisor Jake Sullivan,” does not understand China’s industrial policy, does not comprehend Chinese military goals, and has no understanding of technology at all— and has not the will to act.”
The BIS” has been enabling SMIC’s increase for more than ten years ,” they claimed,” from granting end-user status that was validated by SMI in 2007 to decontrolling device production equipment, including printing devices, in 2015 to a licensing scheme that is riddled with loopholes in 2020.”
Additionally, McCaul and Gallagher asserted that the BIS may prevent Chinese businesses from evading US export control regulations announced on October 7, 2022, as well as entity listings that make the delivery of cloud computing content to licensing requirements. & nbsp,
An updated law limiting the exports of US chip-making tools to China is in the final phases of review, according to Reuters, which reported on October 6. A restriction titled” Export controls to Semiconductor Manufacturing Items, Entity List Modifications” was posted on the Office of Management and Budget’s( OMB ) webpage on October 4 as a preview of the upcoming changes.
Previous leaders were cited by Reuters as saying that trade control laws are typically not posted by OMB until there is agreement on their content between the Departments of State, Defense, Commerce, and Energy. According to a Reuters report, the revisions may tighten restrictions and address flaws in rules that were initially unveiled on October 7, 2022.
The US government has not yet published an anticipated friend concept updating restrictions on imports of high-end chips used for artificial intelligence.
Separately, Gallagher stated in a speech to Reuters that the Commerce Department if” need any National person or company to obtain an export license prior to engaging with Chinese companies on RISC – V,” an open-source technology that can be used to design electronics.
Regarding the potential decision to impose additional restrictions on Huawei and SMIC, Foreign observers have differing opinions. In addition, & nbsp,
According to Lyu Dong, a journalist at Guancha.com,” some US lawmakers suggested that the US may restrict its companies from contributing to open-source technology, particularly in projects that involve Chinese firms.” Many people in the technology industry are silent as a result of this strategy.
The US does not have any benefits in developing RISC-V; it is not that China is using American firms to improve its technologies, Lyu continues.” This is a recommendation that will not help increase the attractiveness of the US firms, but lessen their international market shares.” In actuality, US businesses must expand in China’s areas.
McCaul and Gallagher are both Republicans, according to Zhang Tengjun, deputy director and equate research fellow at the China Institute of International Studies’ Department for American Studies. They want to exert pressure on the Biden presidency and advance China and the US’s modern dispersion. & nbsp,
Zhang opined that in order to advance their political plan,” they also want to cater to the needs of native anti-China forces by exaggerating the” China danger.” ” The Biden administration will have its own judgment as it understands that if the US imposes more restrictions on China, it will be a lose-lose condition.”
On the other hand, on Monday, a journalist from Beijing published an article titled” Regulations on RISC – V will pose risks to China.”
” China may find it challenging to acquire and use this technology due to the US government’s stringent controls on RISC-V.” This will present challenges for China’s technological advancement and development in chip design and production, the journalist wrote in the post. & nbsp,
Additionally, he claims that restrictions on RISC-V could harm China’s investments in microprocessor technology because investors are typically drawn to industries with strict regulations.
During Raimondo’s attend to Beijing on August 29, Huawei quietly introduced its new Mate60 Pro handset. The Kirin 9000s processor in the phone was created by SMIC using its N 2 technology, according to TechInsights, a Canadian research firm.
Analysis revealed that the Kirin 9000s device has two Arm Cortex A510 energy-efficient components and four high-performance Taishan V120 core. According to reports, Huawei has acquired a permanent permit to use the Arm V8 training collection created by Japan’s SoftBank Group Corp. and based in the United Kingdom.
The US prohibited Huawei from using the V9 layout because it had contributed important solutions to Arm’s structures. Huawei built the Taishan structures as a result, but the same research reveals that it still needs to rely on the Arm 1.
According to some IT columnists, Huawei’s HarmonyOS and the open-source RISC-V infrastructure may one day replace Chinese operating system-chipset ecosystems.
According to a Hunan-based author in an content,” The two primary operating system – chipset ecosystems are the” Wintel”( Windows OS and Intel’s x86 infrastructure ) and” An’ A’ ( Android O and the Arm structures).” Of course, there is also the” I-A” system( Apple’s iOS and the Arm architecture ), but it is a closed system.
He claims that if HarmonyOS and RISC-V may become China’s habitat, it will have a significant impact on the information technology industry. He does this by pointing to the TH1520 and Alibaba processors’ most recent collaboration.
Huawei, ZTE, Alibaba, Unisoc, and Tencent are among the RISC-V Foundation’s Taiwanese people, according to Chinese media, while Intel, Google, Qualcomm and SiFive are its National people. & nbsp,
The RISC – V Foundation, which was established in 2015, claimed that about 10 billion of these chips have been produced worldwide and that by 2025, the number may reach 80 billion models.
In addition to McCaul and Gallagher, Democrat Senator Marco Rubio and Democrat Senator Mark Warner have urged the Biden administration to address RISC-V, citing concerns for national protection.
According to Rubio, China is creating open-source chip infrastructure to get around US sanctions and expand its chip industry.
According to Warner, the current export-control regulations are unprepared to handle the difficulty of open-source technology in RISC-V or the field of artificial intelligence. He claimed that a significant paradigm change is required.
Raimondo wants more and better tools to stop Huawei, according to the article.
@ jeffpao3 Follow Jeff Pao on Twitter at & nbsp.
HONG KONG: & nbsp, Country Garden issued a warning on Tuesday, October 10, about its inability to fulfill its debt obligations to foreign creditors, potentially joining the growing list of Chinese developers who have filed for bankruptcy and paving the way for one of the nation’s largest debt restructurings. SinceContinue Reading
TOKYO- Do to declare, on their financial Bingo accounts, almost no one in Asia experienced an increase in oil prices of 5 % or more in a one day in October.
This surprise may be insignificant in light of the knowledge gaps between Jerusalem and Washington that surround the shocking Hamas strikes on Israel over the weekend. However, the consequences is a game-changer for Eastern governments and central banks that are already dealing with high inflation and rising US Treasury bill provides.
The Bank of Israel and the NBP have previously struggled to scrape up about$ 45 billion to maintain the local money, the dinar. The sudden Middle East crisis is changing the calculations for the Bank of Japan, People’s Bank, China, and other Asian financial government. This is coming two days after the most recent slugfest of a US work document, in which the largest economy in the world added 336, 000 jobs in September only.
Despite the highest inflation costs in Japan in 30 years, the BOJ, for instance, has been soft-pedaling goes to” trim” plan. Governor Kazuo Ueda has surprised investors betting on the BOJ leaving 23 times of quantitative easing since taking the position in April. Ueda has so far maintained its” yield-curve control” policy and report cash flow.
The BOJ’s determination to slow-walk moves to adjust rates seemed to be supported by information last week that wage growth was slower than anticipated in August, rising only 1.1 % year over year.
However, a new wave of political conflict is now being brought on by constrained US labor markets and higher Treasury debt yields. The economic fallout will only last a short time, according to the positive outlook.
According to Commonwealth Bank psychoanalyst Vivek Dhar,” for this conflict to have a long-lasting and significant impact on petrol markets, there must be an ongoing reduction in oil supply or transport.” Then, as history has demonstrated, other market forces can easily outweigh the good oil price reaction, which is typically temporary.
The” essential for areas” is whether the issue is contained or spreads to other areas, particularly Saudi Arabia, according to scientist Brian Martin at ANZ Group Holdings. At least initially, it appears that markets may assume that the situation’s range, duration, and effects on oil prices will be constrained. However, higher volatility is be anticipated.
Political crises in the Middle East have typically led to an increase in oil prices while a decrease in stock prices, according to economist Ed Yardeni, president of the research firm. However, he continues,” more often than not, they’ve even tended to be stock market buying opportunities.”
However, it is not commonly believed that the Israel-Hamas issue won’t jeopardize important oil supply sources. According to Henning Gloystein, an analyst for the Eurasia Group, there is a chance that the conflict will worsen locally. Although we are not already it, there may be supply problems if Iran is drawn into it.
The managing director at SPI Asset Management, Stephen Innes, issues a warning that” historic research suggests that crude prices tend to experience prolonged increases after the Middle East catastrophes.”
Iran continues to be a major wild posting, according to Strategist Helima Croft at RBC Capital Markets, and we’ll be watching to see how harshly Israeli Prime Minister Netanyahu accuses Tehran of aiding Hamas in these attacks by giving them weapons and administrative support.
It is impossible to evaluate all of the factors that could change market relationships. According to Pierre Andurand, director of the wall account,” Over the past six months, we have seen a very large boost in Egyptian supply due to weak protection of punishment.”
According to Andurand, there is a good chance that the US administration may tighten its sanctions on Iranian oil exports because Iran is also responsible for Hamas’ strikes on Israel. The petroleum industry would become even more constrained as a result. Additionally, there is some chance that this will result in a strong fight with Iran.
The strong exchange of the US dollar is likely to last as a flight-to-quality trade picks up speed. Economists at Barclays claimed that stronger-than-expected job growth put US labor markets” significantly out of balance” and may create US Federal Reserve Chair Jerome Powell” wary” that financial conditions are strong enough yet before Hamas attacked Israel.
According to planner Bob Savage at BNY Mellon Capital Markets, the” money charge holds and the uncertainty over development and inflation continues.” ” In areas and in finance, in monetary and fiscal policy, we are more likely to see an increase of issue than a resolution at home and abroad.”
The yen, which is at the psychologically significant 150 degree( it is down almost 14 % this year ), is likely to experience further downward pressure as a result of all of this. The danger that Japan will buy additional inflation due to rising energy and food prices increases as the yen depreciates. and Tokyo government might step in if the risk is greater.
As a softer yen did more to increase Japanese exports and juice gross domestic product ( GDP ) than fan inflation, Ueda had hoped to bide his time up until this point. West Texas Intermediate petrol increased to over$ 86 per chamber on Monday, raising the possibility that bet could fail.
As the gap between US and Japanese prices widens, Powell’s staff in Washington is more likely than ever to keep tightening the story. Powell may step up his efforts to temper inflation expectations, even though US economic policy has little impact on a” fear deal” that drives up petrol prices or Saudi Arabia’s actions to cut back on production.
This considerably complicates Ueda’s math. 160 hankering to the money was essentially guaranteed if he refused to close the yield gap with the US. Chinese yields may increase if Ueda decides to withdraw liquidity, endangering the financial system and stalling the recovery of the economy.
According to researchers at the Commonwealth Bank of Australia,” the chance” is increased fuel prices, a decline in securities, and an increase in uncertainty that supports the penny and yen and undermines” risk” assets.”
The Financial Services Agency of Japan recently announced plans to stress-test at least 20 important Chinese lenders. Problem: Japan runs the risk of a Silicon Valley Bank-like blowup or two as the BOJ works to dismantle QE policies that have been an integral part of the world filament since 2000.
Meanwhile, Southeast Asia doesn’t typically prosper in the midst of strong dollar rallies, from the region’s 1997 – 98 crisis to the present. For instance, the Thai baht has already fallen by more than 7 % this year, showing a decline in the country’s economic outlook.
Rising oil prices are a very unpleasant growth for the PBOC. At a time when Riyadh is cutting back on fuel supplies, China has also seen the yuan decline this time. Owing to its Russian network, Beijing has been able to reduce energy challenges up until this point. However, the Middle East conflict upends that solution, as does Moscow’s demand for higher power export charges.
Consumer prices are likely to” rise a little more than they did in August as stimulus measures and higher commodity prices wash through ,” according to economist Denise Cheok at Moody’s Analytics, when China releases its most recent inflation data on Friday.
However, economists are currently unsure of what the October files will reveal. On the one hand, rising costs might put an end to the Chinese recession story that has recently alarmed international markets. However, in order to maintain island need, they might restrict PBOC Governor Pan Gongsheng’s alternatives.
It hardly helps that as international unrest worsens, Asia’s post-Covid – 19 debt surge then puts the governments of the region in danger. According to Thomas Rookmaaker at Fitch Ratings, the common government’s debt to GDP ratio in the Asia-Pacific region are expected to decline between 2023 and 2025.
The level of the drop, he adds,” seems reasonable in the framework of strong regional economic growth and the significant rise in government debt in most markets during the Covid – 19 crisis.”
According to Rookmaaker, the sovereigns of the Asia-region” face headwinds in the near phrase from continued poor outside need.” Fitch analysts predict that debt / GDP will continue to rise in 2023 – 2025, building on increases that were already significant during the pandemic, in emerging markets like China and India.
The region is becoming more and more vulnerable to rising oil prices as a result of the region’s large US yields in nearly 20 years and higher Eastern debt levels. The Organization of Petroleum Exporting Countries ( OPEC ) cartel’s apparent lack of interest in setting price caps does not help either.
According to scholar Warren Patterson at ING Bank, losing this supply would have the effect of tightening the world oil stability throughout 2024. ” At the moment, we are assuming that Iran’s stockpile will remain around 3 million barrels per time through the following month, but given subsequent developments, there is obviously a upside risk to this.”
The surplus that we now anticipate in the first quarter of 2024 would generally vanish, leaving the market about in balance early the following year, according to Patterson, if this loss occurs. Deeper deficits may be present for the majority of 2024, especially over the second half of that year.
Patterson continues,” There would be some upside risk to our current Brent forecast of$ 90 per barrel for next year under this scenario.” We don’t anticipate OPEC to change their output policy as a result of recent developments, Patterson says for the time being. However, it’s possible that Saudi Arabia may begin to reverse their more deliberate supply cut if we saw significant price strength, such as Brent buying above$ 100 per cylinder.
He continues,” There are indeed points at which the Saudis would begin to worry more and more about the potential for need death.”
Additionally, all of this adds to the list of factors that are already causing higher global inflation, according to analyst Richard Martin at consulting IMA Asia. According to Martin,” the causes of architectural prices are significant signal paying during Covid-19, Russia’s invasion of Ukraine, an upcoming El Nino weather event, a wave of populist politicians with tariffs and patriotic industry policies, and quickly tight labor markets.”
Martin continues,” Some items are going wrong at the same time, with the fundamental rise in inflation being the symptom, not the reason.” One of the most effective tools used by central banks to control inflation is higher interest rates, but they are a harsh application with little connection to the root causes. These factors are flourishing, and in the coming year, others might join them.
William Pesek, formerly X, can be reached by following him on Twitter at @ William Peasek.
As confidence in the cover and investment markets dried up more than two years ago, the turmoil grew worse, further limiting the cash of developers. The industry, which accounts for about 25 % of the second-largest economy in the world, has received a number of aid actions from Beijing inContinue Reading
Southeast Asia’s thriving economies, including Vietnam, will continue to fuel growth in the region’s developing domestic corporate bond markets. In particular, Vietnam’s local corporate bond market is set to get a boost with the recent launch of a new local credit rating agency (CRA) in the country by Moody’s and several leading local financial institutions.
“Moody’s has long recognised the pivotal role that domestic bond markets play in financing investments to propel growth not only in Southeast Asian economies but also the broader Asia region,” said Wendy Cheong, managing director and regional head of APAC, Moody’s Investors Service. She added, “Over the years, we have formed domestic strategic alliances in China, India, Korea and Malaysia with local CRAs that have actively contributed to the sustainable expansion and advancement of their bond markets.”
Wendy Cheong, MD and regional head of APAC, Moody’s Investors Service
More recently, Moody’s has made another bold commitment to its domestic strategy. In September, it formally launched Vietnam Investors Service And Credit Rating Agency Joint Stock Company (VIS Rating) in partnership with several leading local financial institutions in Vietnam. Moody’s is the largest minority shareholder of the domestic CRA. VIS Rating is Moody’s first investment in a greenfield CRA in a frontier market.
“VIS Rating is ready to support the development of efficient and liquid debt capital markets in Vietnam with the aim of providing independent, best-in-class rating services to corporate bond issuers in the country,” said Tran Le Minh, managing director of VIS Rating. He added, “At the same time, we will continue to draw on Moody’s global expertise and deep insights to introduce best practices to the domestic market.”
Tran Le Minh, MD, VIS Rating
Moody’s firm commitment rides on the back of the large growth potential of Southeast Asia’s (ex-Singapore) economies and domestic corporate bond markets, including Vietnam. Over 2017-2022, the region’s local bond markets collectively recorded a cumulative annual growth rate (CAGR) of 6.4% and are now almost triple the size of the cross-border market in terms of issuance volume. Domestic corporate bond issuance volumes have returned to pre-Covid levels at about $140 billion in 2022[1]. Meanwhile, on a macroeconomic level, the region’s GDP accounts for 12% of Asia’s emerging markets and grew at 4.8% CAGR over 2017-2022.
Moreover, multinationals are scouring Southeast Asia, including Vietnam, to diversify their supply chains amid elevated geopolitical tensions. Given Southeast Asia’s large consumer base and infrastructure development needs, the region’s economies are set to expand further. Vietnam is no exception. Moody’s projects the economy will grow faster than most peers[2] in Southeast Asia through 2024.
Furthermore, the country’s local bond market has large room to grow with outstanding corporate bonds consisting of just 13% of GDP as of August 2023. This level comes after brisk growth of 30% CAGR over 2017-2022. As Vietnam’s domestic corporate bond market develops, credit ratings and research will play a meaningful role by helping companies access new sources of capital, diversify their funding base, enhance market transparency, as well as maintain investor confidence during times of market stress.
“In Vietnam, VIS Rating is well placed to empower bond market participants with informed decision-making through its independent domestic credit ratings,” said Tran. He added, “Our activities such as joint events with Moody’s, foundational and market educational outreach will help deepen Vietnam’s credit culture and bring value to local market participants.”
Leveraging Moody’s global best practices and extensive capabilities, VIS Rating has built out its ratings and research function. These include developing its rating methodologies; publishing research reports; engaging in market outreach through podcasts, media interviews and industry events; as well as developing its own database and ratings platform.
VIS Rating outreach activity with market participants
“For Moody’s, VIS Rating not only broadens our network of domestic partners in Asia but also complements our cross-border coverage,” said Cheong. She added “Since we first assigned a sovereign rating to Vietnam in 1997, we have grown to become the leading global rating agency in terms of cross-border coverage in the country.”
Beyond ratings, Moody’s continues to harness its global insights and local expertise to offer timely and high-quality research on Vietnam. For example, it has been hosting its annual Inside ASEAN investor conference virtually and in-person in Hanoi and Ho Chi Minh City since 2016.
As Vietnam’s domestic bond market flourishes, Moody’s is undoubtedly there for the long haul. It remains committed to providing talent and technical support to VIS Rating as the company embarks on an exciting journey to become the country’s rating agency of choice.
[1] Source: Moody’s, AsianBondsOnline, BIS, Securities and Exchange Board of India.
[2] Source: Moody’s sovereign report, titled, “Government of Vietnam – Ba2 stable: Update following change in economic strength score and GDP forecasts” published 13 July 2023.
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