Retailers ramp up inventories for upcoming New Year holidays despite cautious consumer spending
Consumers have been cautious with their spending since Typhoon Yagi in September and given the prevailing economic headwinds.
Vietnam among Asia’s top 5 destinations during Lunar New Year
Agoda data puts Vietnam in the top 5 most popular destinations for travelers across the Asia-Pacific region during the upcoming Lunar New Year, or Tet, holiday.
Purchasing power for Tet forecast to fall
Many businesses have launched promotional programs to attract customers.
Exports up despite Tet
Many export items posted turnover in excess of $1 billion in February despite there being fewer working days because of the Lunar New Year (Tet) holiday. This provides a foundation for exports to rise further in the months to come. Countries imposing sanctions on Russia due to its conflict with Ukraine may pose challenges for Vietnamese enterprises that import input materials from Russia for export to other markets.
International flight frequency to rise
Permanent Deputy Prime Minister Pham Binh Minh has agreed to increase the frequency of regular international commercial flights to destinations such as Japan, South Korea, and Taiwan (China) and to expand the application area of the pilot phase to Europe and Australia to meet the needs of overseas Vietnamese on the occasion of the 2022 Lunar New Year (Tet).