Prime Minister Nguyen Tan Dung has sought to banish fears over Vietnam's economy saying the communist country does not need a bailout, according to state media.
Vietnam is battling to control high inflation and falling growth, while debt bedevils the country's banks.
Dung said the nation does not need help from either the International Monetary Fund or regional nations, Vietnam News Agency said late Thursday.
"The government doesn't need this support given the country's current positive macro-economic situation, balance of payments, foreign currency reserves and market confidence," he said.
Last week, a report from the National Assembly's economic committee said the government could consider establishing a fund to restructure banks which "may be based on sources of loans from the IMF".
Subsequent international media reports on a possible IMF bailout prompted Vietnam's central bank to clarify that the government had no plans to seek help for its economy.
An IMF spokeswoman told Dow Jones newswires last week that no request for aid had been made.
The once-booming Southeast Asian economy has been hit by high inflation, low growth rates and suffers from a lingering banking crisis linked to inefficiencies and corruption at state-owned enterprises.
While inflation slowed to 5.04 percent year-on-year in August, down from a record high of 23 percent in August last year, the government's repeated rate hikes have been punishing for the broader economy.
GDP growth was 4.38 percent year-on-year for the first six months of 2012, down from 5.9 percent for all of 2011. The government is targeting 5.5 percent growth for 2012.