Topic: market

Director of the Civil Aviation Authority of Vietnam Dinh Viet Thang said that in the past 10 months, the domestic aviation market has grown rapidly, but the international market has only recovered by about 50 per cent. Airlines and passenger transport providers still have to deal with the unfavorable problems left by the epidemic, especially the imbalance of cash flow in 2 years that freezes operations.

According to Nielsen, Vietnam is the fastest-growing Asian market for snack consumption and ranks third in the world in terms of compound annual growth rate (CAGR) in the market, with 19.1 per cent in 2021, after Argentina, with 25.8 per cent, and Slovakia with 20 per cent. Young Vietnamese spend up to VND13 trillion ($520.65 million) monthly on junk food, showing that quality and demand are increasing.

At the Vietnam Blockchain Summit 2022 taking place in two days, October 19-20, 2022, organized by the Vietnam Software and Information Technology Services Association (VINASA) and the Vietnam Blockchain Association (VBA), experts said that Vietnam is one of the potential markets and one of the bright spots in Blockchain technology. Vietnam has more than 10 enterprises in the top 200 blockchain enterprises in the world, which is the premise for blockchain projects in Vietnam to continue to develop.

Mr. Damien Green, President & CEO of Manulife Asia, talks about Vietnam’s recovery from Covid-19 and the drivers that promote the country as an important market in Manulife’s growth strategy in Asia.

The purchase of land plots and apartments in Ho Chi Minh City and surrounding areas fell by nearly 80 per cent in the third quarter of 2022. The DKRA Group has forecast that market demand and liquidity will continue to be affected over the closing months of the year by moves to increase interest rates and strengthen credit control.

According to Batdongsan.com.vn, demand to buy all types of real estate fell sharply in September, with the number of searches for land plots nationwide down by 50 per cent compared to March, apartments by 9 per cent, private houses by 25 per cent, and villas by 12 per cent. The market will continue to face many challenges. Prices are forecast to remain unchanged, while developers will boost sales policies to support and attract buyers.

The Ministry of Transport (MoT) has issued an Official Letter requesting that its departments flexibly and effectively use tools and measures to control freight rates in accordance with the law on prices, to stabilize the market.

With impressive growth posted in the third quarter, United Overseas Bank (UOB) has raised its growth forecast for Vietnam in 2022 to 8.2 per cent; significantly higher than its previous forecast of 7 per cent. UOB believes that, in 2023, Vietnam’s economy will be affected to a certain degree in the context of demand in main markets continuing to slow down. Growth next year is therefore expected to be 6.6 per cent.

Cushman & Wakefield believe that, compared to Indonesia, Malaysia, and the Philippines, the price of industrial land in Vietnam is still relatively low. Along with other factors such as a stable macroeconomic situation, low inflation, and advantages in infrastructure and transportation, Vietnam therefore has the potential to become a leading industrial center in the region.

Figures from the General Department of Vietnam Customs show that export turnover of Vietnamese goods to the Chinese market reached more than $35.6 billion in the first eight months of 2022, up 6.7 per cent year-on-year. According to the Ministry of Industry and Trade, Vietnam still has a lot of opportunities to exploit the Chinese market. China is currently Vietnam’s second-largest export market, after the US, while Vietnam is China’s largest trading partner in ASEAN.