Recently, the Compiling Council for Annual Credit Ratings Report, the Vietnam Credit Ratings Joint Stock Company (CRV) and the Information and Communications Publisher announced the release of the “Annual Vietnam Credit Ratings Index Report 2013″. Vietnam Business Forum interviewed Dr Nguyen Khac Minh, Dead of the Compiling Council, on the contents of the new report. Huong Ly reports.
This is the fourth year in a row the Annual Vietnam Credit Ratings Index Report 2013 was announced. Could you brief on major contents of this report?
In addition to remarks on macroeconomic performances in the first six months of 2013 and forecasts for the last months of the year, the Annual Vietnam Credit Ratings Index Report 2013 rates Top 100 best-performing companies which focus big companies with more than 1,000 employees
The annual report credibility Vietnam this year in addition to adding the assessment of the macroeconomic situation 6 months and a forecast for the remaining months of 2013, the report ranks 100 conducted the most effective business, focused on large enterprises with over 1,000 employees. The report also rates 568 listed companies from A to C (best to worst). After a long time of study and testing, CRV built a stock rating methodology and started rating listed stocks in 2012. Stock ratings by CRV received good responses from readers. Following the success in the previous year, CRV rated 674 listed stocks on the A, B, C, D and F scale (from best to worst).
What are the major differences of this year’s report from the previous ones?
Unlike previous annual reports where we tend to focus on causes to Vietnam’s economy’s upgrade or downgrade, this year’s report uses integrated comparative analysis methodology to serve as the groundwork for making policy recommendations. For example, the Global Competitiveness Index (GCI) has raised the score for higher education but lowered the score for creativity. The report points out the reason that GCI did not include the quality of Vietnamese higher education.
The report also concludes that the pillars that express the degree and efficiency of supply-related production is more vulnerable when the economy is in the downward cycle. Pillars of commodity market, financial market, technological readiness and innovative business declined.
The performance rating of Top 100 companies is also a new point of this report. The performance proofing of big companies is important to production and business administration. Big companies with good efficiency will help produce samples for high-level management and production organisation. Business orientation of big outperforming companies will be important indicators for other companies in the industry and good suggestions for authorities to take into for industry and business is good hints for the competent authorities in the event of sector restructuring.
Ratings organs always receive mixed reactions from the public. Do you have any suggestion for ratings that will produce a higher degree of consensus of the public?
Mixed feedbacks from the public to a report do not mean that such report is not good. If sentimental factors are abused to generate pleasing results to all, it will go against the nature of ratings. In the event of increasingly complicated economic development as now, credit agencies should improve their methods and input data for better reports. Accurate, timely reports will help perfect the market economy.
Đăng ký: VietNam News
