Vietnam Achieves First Investment-Grade Credit Rating

Key pointsThe Ministry of Finance of Vietnam announced that on October 8, 2026, the credit rating agency Rating and Investment Information, Inc. (R&I) upgraded Vietnam's foreign currency issuer rating from BB+ to BBB-. This upgrade grants Vietnam an investment-grade rating, which is expected to increase interest from domestic and international investors.
Business impactThe improved credit rating may lead to lower financing costs and enhanced investment attractiveness for Japanese companies considering investments in the Vietnamese market. In particular, the financial sector will need to seek new investment opportunities.

Key pointsOn October 8, 2026, Lam Dong Province held a commercial collaboration meeting to promote investment, trade, and tourism with South Korean companies. The Deputy Governor emphasized the strengthening of relations with South Korea, particularly highlighting cooperation opportunities in agriculture and tourism. Lam Dong Province aims to prioritize attracting projects with modern technology from 2026 to 2030.
Business impactStrengthening collaboration with South Korean companies presents new business opportunities for Japanese firms. Particularly, increased cooperation in agriculture and tourism will create more mutually beneficial opportunities.

Key pointsOn October 8, 2026, during a regular press conference on the socio-economic situation in Ho Chi Minh City, the Department of Construction reported that flooding levels on many roads have increased compared to the previous year. It was noted that the depth and duration of flooding, as well as drainage speed, vary with rainfall and tide levels. Areas severely affected by flooding include Phan Huy Ich Street in Tan Son District and Quoc Hung Street in An Cuong District, which are set to receive priority measures. The city plans to complete flood mitigation projects by November 2026.
Business impactThe increase in flooding may impact logistics and business operations for Japanese companies. Particularly in frequently flooded areas, businesses may need to reassess operations and strengthen drainage measures. Companies should develop business plans that consider flood risks.

Key pointsThe growth of Hanoi's tourism sector is creating new revenue opportunities in the hotel market. In the first half of 2026, Hanoi is expected to welcome over 18 million tourists, with tourism revenue reaching 74.23 trillion VND. The occupancy rate of accommodations is 65.64%, and extending tourists' length of stay is a key challenge. The expansion of the MICE (Meetings, Incentives, Conferences, and Exhibitions) market is particularly anticipated.
Business impactThe increase in tourists is favorable for the hotel industry, but monetization requires boosting the number of stays and actual spending. Japanese companies are encouraged to develop new services and packages targeting the MICE market.

Key pointsOn October 8, 2026, Japan's rating agency R&I upgraded Vietnam's foreign currency issuer rating from BB+ to BBB-, classifying it as investment grade for the first time. This rating reflects the high regard for Vietnam's economic reform program 'Doi Moi 2.0'. R&I notes that government efficiency, private sector promotion, and capital market development enhance the potential for economic growth.
Business impactThe BBB- rating may facilitate Vietnamese companies' access to international capital markets and expand access to long-term funding sources. Companies planning large-scale fundraising will likely be able to secure financing under more competitive conditions.

Key pointsVietnam is advancing large-scale railway projects such as high-speed rail and metro systems, attracting significant attention from domestic and international investors. The International Railway Technology Exhibition VRT&CON 2026, held in Hanoi from October 8 to 10, 2026, featured over 200 companies showcasing railway infrastructure construction technologies, operational management, and information signaling technologies. Notably, the North-South High-Speed Railway project spans 1,541 km with a design speed of 350 km/h, providing substantial opportunities for the development of engineers and accumulation of experience in Vietnam's railway industry.
Business impactFor Japanese companies, the expansion of railway infrastructure signifies new business opportunities. Companies involved in design and construction should strengthen collaboration with local engineers and consider participation in projects. Attention should also be paid to upcoming railway-related bidding information.

Key pointsFrom October 7 to 8, 2026, customs authorities held a training session in Dong Hoi, Quang Tri Province, focusing on methods and skills for identifying drug crimes. The training aims to strengthen control over drug-related offenses and promote international cooperation. Customs is intensifying efforts towards achieving drug-free cities.
Business impactJapanese companies need to review compliance in their logistics sectors and enhance risk management related to drug issues in response to stricter customs regulations. Compliance with laws and regulations is particularly crucial in import and export operations.

Key pointsIn a 2026 survey, Vinpearl was selected as the most popular large company, while Viettel IDC topped the small and medium-sized enterprise sector, revealing trends in workers' company preferences.
Business impactJapanese companies need to understand workers' company preferences and revise their strategies to secure talented personnel by providing attractive workplace environments.

Key pointsVietnam's electricity authorities announced that household electricity rates will maintain a tiered pricing system, and new peak hour rates will not be applied at this time. This regulation applies only to industrial customers and large service providers, and does not affect household electricity.
Business impactJapanese companies need to manage costs considering the stability of electricity rates. It is particularly important for energy-intensive sectors, such as manufacturing, to develop strategies in preparation for future rate adjustments.

Key pointsOn October 7, 2026, HDBank and Ho Chi Minh City National University, which includes nine universities, signed a comprehensive cooperation agreement to strengthen collaboration in education, finance, and technology. This agreement is expected to contribute to the development of high-quality human resources and economic growth. Both parties aim to connect academic research with banking practices to enhance services to the local community.
Business impactJapanese companies should explore securing talented personnel and new business opportunities through collaboration with HDBank.

Key pointsOn October 8, 2026, a forum held in Hanoi outlined the tax and customs sector's initiative to promote digitalization and simplify administrative procedures to reduce corporate costs. Specifically, ten procedures will be abolished, and tax management will transition to a modern, data-driven approach. This is expected to enhance corporate competitiveness and stimulate economic growth.
Business impactJapanese companies can anticipate cost reductions and improved operational efficiency due to the simplification of tax procedures, particularly requiring finance departments to quickly adapt to the new processes.

Key pointsA transportation network is being developed in northeastern Vietnam to support production and growth in the mining industry. The mining sector is enhancing safety measures and advancing digitalization.
Business impactJapanese companies should focus on the digitalization and safety measures in Vietnam's mining industry and explore opportunities to build partnerships.