Topic: recover

Ho Chi Minh City’s economy continued to recover strongly in the first nine months of 2022, with its gross regional domestic product (GRDP) increasing by 9.44 per cent year-on-year and exceeding the plan. Its Index of Industrial Production (IIP), meanwhile, increased 19.6 per cent, total retail sales of goods and sales from consumer services rose 25.9 per cent, and budget revenue was 27.7 per cent higher. The city expects to have 15 out of 19 targets met and plans exceeded this year.

Some 153,523 jobs were created in Hanoi in the first eight months of 2022, representing 96 per cent of the annual plan and 38,728, or 33.7 per cent, more jobs than were created in the first eight months of 2021. The Hanoi Department of Labor, Invalids and Social Affairs has forecast that the recruitment needs of businesses will be focused on office, sales, and production staff, electronic component assembly, and other fields.

Positive signs of recovery seen in aviation sector so far this year.

In assessing the potential of Vietnam’s aviation industry in the second half of 2022, analysts believe its profit growth will be higher than in the first half, based on three main factors: domestic travel is tending towards strong recovery, international visitors are expected to gradually increase in number by the end of the year, and rising demand will help airlines manage fuel costs.

Banks predict that Vietnam’s economy will recover quickly over the remainder of the year.

In its recently-released “Global Focus - Economic Outlook Q3-2022: Near the Tipping Point” report, Standard Chartered Bank forecasts GDP growth of 6.7 per cent in Vietnam this year and 7 per cent in 2023. It also forecasts that inflation will come in at 4.2 per cent and 5.5 per cent in 2022 and 2023, respectively. Vietnam’s economy will recover strongly in the second half of 2022, the report stated.