Fitch: Vietnam position remains strong

Fitch Ratings said that Vietnam's inward foreign direct investment (FDI) flows are forecast to remain high by historical standards, at $4 billion in 2008, despite an expected global economic slowdown.

Accession to the World Trade Organization and a favorable domestic investment environment resulted in an estimated 60% increase in inward FDI flows in 2007, to $3.9 billion (5.5% of GDP), Fitch said.

In addition, the country has been a net external creditor since 2006 and a net public external creditor since 2007. Fitch said it believes Vietnam's strong external financial position will remain a fundamental rating strength.

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