Prime Minister Phạm Minh Chính (right) and Global Chief Commercial Officer at S&P Global Ratings Lynn Maxwell at the meeting on February 26. — VNA/VNS Photo Dương Giang

HÀ NỘI — Prime Minister Phạm Minh Chính met with Lynn Maxwell, Global Chief Commercial Officer at S&P Global Ratings, in Hà Nội on Wednesday, seeking to attracting international investment for Việt Nam's ambitious infrastructure plans.

Expressing appreciation for S&P’s recent BB+ credit rating and stable outlook for Việt Nam, PM Chính reaffirmed the country’s commitment to improving its credit standing, and its hope for stronger and more effective cooperation with the agency.

Despite COVID-19-related disruptions, Việt Nam achieved over 7 per cent growth in 2024 and aims for 8% in 2025, targeting double-digit growth in the following year, he said. 

To realise these goals, Việt Nam is pushing for institutional reforms, facilitating the operations of private businesses, streamlining administrative procedures, and cutting compliance costs. The government also focuses on strategic infrastructure development in transportation, health care, education, and culture to lower logistics costs and boost global competitiveness.

The PM emphasised the need for skilled human resources to support Việt Nam's digital economy, green economy, circular economy, and knowledge-based economy. He reaffirmed the nation’s commitment to sustainable development, balancing economic growth with social welfare and environmental protection.

Calling for greater support from the US, Chính highlighted the importance of the Việt Nam-US Comprehensive Strategic Partnership, established in 2023. Việt Nam is working to ensure balanced trade relations with the US, including plans for major aircraft purchases to strengthen its aviation sector, he said. 

The leader used the occasion to call on the US to recognise Việt Nam as a market economy, facilitate its intensive and extensive integration, and lift export restrictions on some technology.

Maxwell noted that S&P’s operations have significantly contributed to the development of Việt Nam's financial market, enhancing market confidence through credit ratings.

She highlighted S&P’s global expertise, with over 1,000 analysts operating in 108 countries. Maxwell reaffirmed S&P’s commitment to supporting Việt Nam's development by connecting its market with international capital.

PM Chính outlined Việt Nam's extensive infrastructure plans, including airport expansion, aircraft purchase, and the North-South high-speed railway project. Việt Nam needs about US$100 billion for railway development and $40-50 billion for its urban rail system by 2035. The country has set the goals of building 3,000km of expressways by 2025 and 5,000km by 2030, while investing heavily in seaports, inland waterways, and logistics.

He called on S&P to provide guidance on mobilising capital through diverse formats and stressed Việt Nam's efforts to refine the legal framework in order to attract more investments. — VNA/VNS