Tran Le Thuy

Vietnam's ambassador to the U.S. Pham Quang Vinh has asked the U.S. to open arms trade to Vietnam and recognize Vietnam's market economy status, which will be "a favorable background for the upcoming visit to Vietnam by President Barack Obama," according to a statement on the Embassy's website.

Standard & Poor's rates Vietnam 'BB-' long-term and 'B' short-term sovereign credit ratings due to rising debt burden, banking sector weakness, and the country's emerging institutional settings that hamper policy responsiveness.