Headwinds forecast

According to ICAEW, Vietnam was able to bounce back quite quickly in 2021 as compared to the rest of the region. With the easing of restrictions from last year’s fourth quarter that carried over to this year’s first quarter, there has been a significant recovery in its services sector driven by domestic tourism. Additionally, there should be a boost on the international tourism front as travellers return to Vietnam. Realised foreign direct investments inflow into Vietnam this year should provide support for construction and labour and also improve export capacity, which still remains healthy. It was noted that Vietnam was not particularly affected by the Delta variant wave, and hence did not experience large lockdowns that impacted its economy as much as Malaysia and the Philippines did. The economic recovery path chartered across Southeast Asia has been uneven and must now contend with rising external headwinds from outside the region. Despite that, an average … [Read more...] about Vietnam’s GDP growth forecasted to hit 6.5 per cent in 2022

Viet Nam has high regional growth prospects, predicted at more than 6.5 per cent in 2022. — Infographic by Oxford Economics The economic recovery across the South-East Asian region has been uneven and must now contend with rising external headwinds from outside the region. Viet Nam is predicted with a high growth prospect in the region, at more than 6.5 per cent in 2022, 0.7 per cent higher than the average growth of 5.8 per cent for the whole region. This was a key finding from the Economic Forecast presented by the experts at the Institute of Chartered Accountants in England and Wales (ICAEW) Economic Insight Forum Q2. Viet Nam was able to bounce back relatively quickly in 2021 compared to the rest of the region. With the easing of restrictions from last year’s Q4 that carried over to this year’s Q1, there has been a significant recovery in its services sector driven by domestic tourism. With the current endemic phase, there should be a boost on the international tourism … [Read more...] about Viet Nam’s growth to rise by 6.5 per cent in 2022: ICAEW

In any case, public debt will not hit the limit of 65 per cent of GDP, said the Ministry of Finance Vietnam’s real GDP grew 5.03 per cent on-year in the first quarter of 2022, extending the 5.22 per cent pace in the last quarter of 2021 as the services sector rebounded after more parts of its economy were reopened with the relaxation of mobility and distance restrictions. The manufacturing sector continued to take the lead, and most significantly, the overall services sector expanded 4.58 per cent on-year, from 1.22 per cent in the previous quarter and 3.62 per cent in the first quarter of last year. It was clear that service activities were able to benefit from the lifting of COVID-19 restrictions imposed during the second half of last year. Recent data suggests that Vietnam’s underlying growth momentum remained intact in the second quarter of this year. The manufacturing sector continued to power on, registering a 9.24 per cent on-year gain in the first five months, from … [Read more...] about Vietnam steady but external risks weigh

Việt Nam has high regional growth prospects, predicted at more than 6.5 per cent in 2022. — Infographic by Oxford Economics HÀ NỘI — The economic recovery across the South-East Asian region has been uneven and must now contend with rising external headwinds from outside the region. Việt Nam is predicted with a high growth prospect in the region, at more than 6.5 per cent in 2022, 0.7 per cent higher than the average growth of 5.8 per cent for the whole region. This was a key finding from the Economic Forecast presented by the experts at the Institute of Chartered Accountants in England and Wales (ICAEW) Economic Insight Forum Q2. Việt Nam was able to bounce back relatively quickly in 2021 compared to the rest of the region. With the easing of restrictions from last year’s Q4 that carried over to this year’s Q1, there has been a significant recovery in its services sector driven by domestic tourism. With the current endemic phase, there should be a boost on the international … [Read more...] about Việt Nam’s growth to rise by 6.5 per cent in 2022: ICAEW

Vietnam has high regional growth prospects, predicted at more than 6.5% in 2022. (Infographic by Oxford Economics) Hanoi (VNS/VNA) - The economic recovery across the South-East Asian region has been uneven and must now contend with rising external headwinds from outside the region. Vietnam is predicted with a high growth prospect in the region, at more than 6.5% in 2022, 0.7% higher than the average growth of 5.8% for the whole region. This was a key finding from the Economic Forecast presented by the experts at the Institute of Chartered Accountants in England and Wales (ICAEW) Economic Insight Forum Q2. Vietnam was able to bounce back relatively quickly in 2021 compared to the rest of the region. With the easing of restrictions from last year’s Q4 that carried over to this year’s Q1, there has been a significant recovery in its services sector driven by domestic tourism. With the current endemic phase, there should be a boost on the international tourism front as … [Read more...] about Vietnam’s growth to rise by 6.5% in 2022: ICAEW