The Vietnam Investors Service and Credit Rating Agency Joint Stock Company (VIS Rating) officially came into operation on November 24.

According to Managing Director Tran Le Minh, the company was jointly incorporated in November 2021 by founding shareholders Moody’s, a global credit rating agency, and leading Vietnamese financial bodies, based on initiatives of the Vietnam Bond Market Association (VBMA).

VIS Rating received Ministry of Finance (MoF) approval to provide credit rating services on September 18, 2023 and becomes the third agency to provide such services in Vietnam.

Addressing the ceremony, Deputy Head of MoF’s Banking and Finance Department Nguyen Hoang Duong said credit ratings are an important component of the financial market in general and corporate bonds in particular.

“Alongside independent auditing activities, we believe that credit rating activities are an effective tool to promote transparency and openness in financial markets and contribute to the development of a sustainable capital market, facilitating the flow of important capital resources in the economy,” said Mr. Duong.

VIS Rating aims to ensure that corporate bonds will actually become significant tools in capital attraction for businesses and make important contributions to Vietnam’s economic development.