Industry Research Report

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Industry Research

S&I Ratings is ready to provide businesses and investors with Industry Research reports on the most promising and dynamic sectors of the market.

What is
Industry Research Report?

This report analyzes and forecasts the development, opportunities, and challenges of a specific industry in the future. It is typically based on macroeconomic factors, market trends, policies, and other influencing factors that may affect the growth and development of the industry.

Why you should pay attention to
Industry Research Report?

Objectives of the report

Understanding market trends
Assessing current creditworthiness of industries
Forecasting future market prospects
Providing information for investment decision-making

Overview of
Credit Rating Methodology

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Credit Rating Scale

The credit rating scale ranges from AAA, reflecting the highest credit quality, to D, reflecting the lowest credit quality.

Rating Methodology

Including qualitative and quantitative criteria to assess risk factors and measure the impact of each factor on the issuer's ability to fully and timely meet debt obligations.

Rating Process

Description of the steps for credit rating services, starting from customer consultation to the announcement of the rating results.

Other Solutions for Investors

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Corporate Bond Market Report

S&I Ratings provides detailed information and in-depth analysis of the corporate bond market. This service helps investors understand market trends and fluctuations, thereby supporting investment decision-making.

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Our Research & News

Corporate Bonds

3Q2025 Corporate Bond Bulletin

Q3/2025 Corporate Bond Market: Record Early Buybacks Amid Cooling Issuance Corporate bond issuance in Q3/2025 totaled VND 156.1 trillion across 154 domestic deals and one international issuance by VPBank (USD 300 million), down 33% from Q2 but flat year-on-year. Activity cooled after a strong Q2 driven by major banks raising capital. Private placements still dominated

October 22, 2025

Macro

Vietnam Macro Bulletin 3Q2025

Vietnam’s Economy in Q3/2025: Strong Growth Supported by Low Interest Rates Vietnam’s GDP surged 8.23% YoY in Q3, bringing nine-month growth to 7.85%, the second-highest in 15 years, only behind the surge in 2022. Industrials and Construction (+8.69%) led the expansion, with Manufacturing (+9.92%) and Construction (+9.33%) posting robust gains. Services (+8.49%) and Agriculture (+3.83%)

October 15, 2025

Investor

Vietnam Green Finance Seminar 2025: Pathways to Progress

About the Event Join us for an insightful event dedicated to exploring the latest developments in ESG (Environmental, Social, and Governance) ratings and their impact on sustainable finance. As the demand for responsible investing continues to grow, understanding the evolving landscape of ESG ratings becomes crucial for investors, companies, and policymakers alike. This event will

August 5, 2025

Banking Sector

2025 Banking Sector Outlook: Balancing Growth and Efficiency

Key Highlights from Banks’ 2025 business plans Vietnamese banks have released their business plans for 2025 at their AGMs, with small-sized joint stock commercial banks (JSCBs) are targeting the highest PBT growth (up 106% YoY, excluding NVB), followed by mid-sized JSCBs (up 20% YoY), and large-sized JSCBs (up 17% YoY). Meanwhile, among state-owned commercial banks

June 2, 2025

Macro

Vietnam Macro Bulletin 1Q2025

Q1 Production and consumption activities show positive growth GDP growth reached 6.93% YoY in 1Q2025, the highest increase in Q1 since 2020 (Chart 1). This positive result mainly stems from growth momentum in the manufacturing and tourism sectors, with key industries such as manufacturing (+9.3% YoY), hospitality and food services (+9.3% YoY), construction (+8% YoY),

May 13, 2025

Corporate Bonds

1Q2025 Corporate Bond Bulletin

1Q2025 Overview: Positive signals from public bond issuance channel According to S&I Ratings estimates, 1Q2025 saw 13 bond issuance rounds totaling VND 25.1 trillion. This includes 11 rounds of public issuance (VND 23.1 trillion) and 2 rounds of private issuance (VND 2 trillion). The bond issuance value increased by 4.7% compared to the same period

May 12, 2025

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