Topic: recovery

Localities required to provide farmers and businesses with financial support to boost recovery.

Businesses still have faith in Vietnam’s ability to recover from the current woes.

Export turnover to Russia is showing signs of recovery after a sharp decline of 85 per cent year-on-year was posted last March. Russian businesses have recently shown interest in promoting trade and investment cooperation with Vietnam.

Addressing the online ASEAN-US Ministerial Dialogue on September 29, Deputy Minister of Labor, Invalids and Social Affairs Nguyen Thi Ha affirmed that Vietnam is committed to promoting gender equality and women’s empowerment, especially in employment and labor. She expressed a hope that the US will continue to cooperate and help ASEAN member countries fulfill their commitments in gender equality to fully strengthen women’s rights and post-pandemic recovery.

KB Securities Vietnam (KBSV) believes that although the steel industry remains in a difficult time, steel stocks will enter into a period of recovery thanks to the return of consumption demand and expectations of more positive business results in the fourth quarter.

After re-opening on March 15, Vietnam’s tourism sector has made an impressive recovery but is also facing major pressure to maintain sustainability. It needs to reinvent itself, with new products and upgrades to existing and traditional products, and to link tourism development domestically and internationally.

At the “Business Contact and Dialogue in 2022” conference held recently by Ho Chi Minh City, analysts said that businesses have only now entered into a period of recovery following Covid-19 and need more support to address ongoing difficulties. It is especially necessary to reform administrative procedures to improve the investment environment and the quality of urban administration.

FiinGroup has forecast that most industries posting high growth in the second quarter will slow in the second half of 2022. Chemicals, seafood, fertilizers, logistics, shipping, garments, and rubber will all struggle to maintain their strong growth momentum in the quarters ahead. Conversely, industries with a sharp fall in profits during the second quarter, such as dairy, animal husbandry, and plastic pipe production, may recover in the near future.

Resort developments are becoming increasingly common around Vietnam. The number of branded projects from international and regional operators is expected to double over the next three years, from 127 to 261 by 2025, especially in major tourism destinations such as Da Nang, Phu Quoc Island, Nha Trang, and Cam Ranh Bay, according to an estimate from Savills Hotels.

BIDV Securities (BSC) believes that a post-diluted earnings-per-share (EPS) growth of about 18 per cent, when the rate in the 2019-2021 period was 5 per cent, will present a “big opportunity” for Vietnam to reach its long-term stock investment targets in 2023-2024 if its economy is able to withstand the pressure created by the Fed raising interest rates and can continue to maintain growth.