Friday, May 27, 2022 7:21:15 PM - Markets open
VN-INDEX 1,285.45 +16.88/+1.33%
HNX-INDEX 311.17 -2.12/-0.68%
UPCOM-INDEX 95.29 +0.34/+0.36%
Vietnam’s economic growth forecast to rebound strongly in 2022
VietNamPlus - 1/13/2022 12:41:35 PM
 (0 ratings. You must sign in to rate.)
 Some foreign financial organisations have issued relatively positive predictions for Vietnam’s economy this year, with growth expected at 6.5 - 6.7 percent.
 
Standards Chartered held that the GDP growth will rebound strongly to 6.7 percent in 2022 and 7 percent in 2023, saying Vietnam’s medium-term outlook remains positive.
 
The bank made the forecast in its latest reports titled “Still battling headwinds” and “Vietnam - Moving back to high growth“.
 
“The economy should continue to bounce back in 2022 as the pandemic improves. Income growth has outpaced spending growth in recent years; this provides a decent savings buffer against the pandemic.” said Tim Leelahaphan, economist for Thailand and Vietnam at Standard Chartered.
 
“COVID-19 remains a key risk, at least in the short term. The first quarter could see a full resumption of factory operations, after closures in Q3/2021, and government stimulus; clearer recovery is expected in March,” he noted.
 
Economists at Standard Chartered said a continued improvement in the global trade environment will support exports in 2022 although import growth is likely to remain high.
 
In the recent “Vietnam at a glance” report, HSBC said after two years of growth slowdown, the country’s economic growth will accelerate to reach 6.5 percent in 2022. The Government also targeted this year’s GDP expansion at 6.5 - 7 percent, equivalent to the pre-pandemic levels.
 
It noted Vietnam has recovered steadily after hitting bottom in 2021 and that it will regain growth momentum in all aspects soon.
 
Manufacturing and export are expected to retain their leading positions, partly thanks to the stable commitments to foreign investment attraction. Besides, domestic demand is likely to bounce back further when current restrictions are gradually removed and the labour market revives.
 
HSBC noted the biggest obstacle needing attention now is the ongoing COVID-19 outbreak, especially the appearance of the Omicron variant, but it is encouraging that the vaccination has been much improved, enough for avoding another period of widespread social distancing./. 
VNA
 
Read original article here
 
Newer News
25/05 Steel prices cool down as input costs drop
20/05 MoIT stops anti-dumping duties on galvanised steel from South Korea and China
18/05 PM urges US businesses to invest in tourism and trade in Vietnam
16/05 Keeping CPI below 4 pct this year a challenge: Economist
11/05 FDI – bright spot of Việt Nam’s economy amid COVID-19
11/05 Policies needed to support steel industry development
05/05 Gov’t determined to speed up public investment disbursement
05/05 Vietnamese economy to recover fast this year: UNDP representative
04/05 Mixed profit targets for rubber businesses despite price hikes
29/04 Vietnam draws over 10.8 billion USD of FDI in four months
Older News
11/01 Petrol prices rise for first time this year
10/01 Domestic logistics industry to focus on value-added services
06/01 Vietnam-EU trade increases 14.8 percent in 2021
05/01 Industrial production rises 4.82% in 2021
04/01 Việt Nam’s growth rates of 6.3% in 2022 and 6.8% in 2023 'feasible': UNDP Senior Economist
29/12 Vietnam posts trade surplus of 4 billion USD in 2021
29/12 Vietnam’s GDP grows by 2.58 percent in 2021: GSO
28/12 Domestic tourism vital to revive flagging industry
27/12 Vietnam’s economy sailing through COVID-19 storm
27/12 Vietnam seen as manufacturing hub for global brands
 
Newsletter Signup
Top Stories
Steel prices cool down as input costs drop
Why the stock market sell-off when VN’s economy is strong?
Shareholders concerned about bank stocks
HoSE to provide odd-lot trading starting from June
SSC prioritises stabilising solutions for stock market
Market Update
Last updated at 3:05:02 PM
VN-INDEX 1,285.45 +16.88/+1.33%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.