Urgent issue

This preliminary assessment was made by the ASEAN+3 Macroeconomic Research Office (AMRO) after its Annual Consultation Visit to Vietnam from May 3 - 18. “The Vietnamese economy is expected to grow at 6.3 percent in 2022 and 6.5 percent in 2023. Inflation is projected to remain contained,” said AMRO Group Head and Lead Economist Kalra. “This positive outlook rides on strong external demand, a recovery in domestic consumption and healthy investments inflows, bolstered by an appropriate macroeconomic policy stance.” The domestic outbreak of the Omicron variant receded sharply in April 2022, and border restrictions and domestic containment measures were eased. The aggregate output gap is expected to narrow significantly by the end of this year. The recovery is, nevertheless, uneven across sectors. While both the manufacturing and service sector outputs have surpassed their 2019 levels, the service sector still has pockets of distress, especially in the tourism, hospitality and … [Read more...] about AMRO forecasts Vietnam’s strong recovery amid external headwinds

Noise-proof panels are being urgently installed at the 3rd ring road, in Mai Dich-Nam Thang Long section. According to the Tokyu-Taisei contractor, about 4,500 aluminum-clad polycarbonate sheets will be installed on a total length of 5.3 km by the end of December. At the construction site, dozens of workers are rushing to complete the work on schedule. Before this installation, the Ministry of Transport assigned the Institute of Transport to test and monitor noise in this area of the road. All must be based on scientific data and then the authority would come to a decision to install noise barriers or not. From the monitoring results, the authority decided that noise has affected the lives of people living next to the 3 rd ring road. The purpose of the noise barrier installation is to eliminate noise for people living next to the ring road./. VNA … [Read more...] about Hanoi installs noise barrier system for the 3rd ring road

National carrier Vietnam Airlines remained in the red in the first quarter of this year, with losses of nearly US$113 million, despite its revenue rising to a two-year high. The airline posted a loss of VND2.621 trillion ($112.9 million) over the first three months of 2022, according to its Q1 consolidated financial statements issued on Friday. The loss was recorded even though the flag carrier logged revenue of more than VND11.6 trillion ($500 million) in the period, up 55 percent year on year, the highest performance since the second quarter of 2020, when COVID-19 began to severely affect Vietnam’s aviation industry. The impressive revenue failed to cover the total cost that was higher than expected, leading to the firm’s ninth consecutive quarterly loss, the carrier said. Vietnam Airlines’ fuel expense in the quarter was VND465 billion ($20 million) more than projected given rising world oil prices, VnExpress cited the company as saying. The Q1 result has brought the … [Read more...] about Vietnam Airlines suffers $113mn Q1 loss despite revenue surge