(VOVworld) - Standard & Poor's credit rating for the country stands at BB-/B with stable outlook, unchanged from the rating announced in March 2015, according to the Vietnamese Ministry of Finance on Friday.

The rating reflects positive review by Standard & Poor and investors for Vietnam’s economic growth and macro-economic factors.

The Finance Ministry credited Vietnam’s unchanged credit rating to its varied and flexible economy despite low average income. Its per capita income is forecast to hit 2,200 USD in 2016 with high macro-economic stability which will facilitate exports and lure foreign direct investment. Socio-economic development plants in the past 2 years have accorded with the goals of stabilizing the macro-economy and curbing inflation. Export growth, greater foreign direct investment, better input of remittance, and lower labor costs in compared with in other countries have helped Vietnam improve its payment balance and competitiveness.