sovereign

As Vietnam has become a middle-income country and will gradually depend more on foreign commercial loans, the improvement of the sovereign credit ratings will help the Government, businesses, and financial and credit institutions be more cost-effective when mobilising loans or issuing bonds to international capital markets, according to the Ministry of Finance.

The US Department of State on July 13 released a statement, rejecting China’s claims to offshore resources across most of the South China Sea (known as East Sea in Vietnam) and its bullying campaign, describing them ‘completely unlawful’.

Chinese geological survey vessel group Haiyang Dizhi 8 has recently violated Vietnam’s Exclusive Economic Zone (EEZ) and continental shelf in the south of the East Sea.