Tag: recovery

The PMI of Vietnam in May increasing to 49.8, signalling a near-stabilization business condition in the sector, according to the S&P Globa.

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.

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.

The Civil Aviation Authority of Vietnam has sent a report to the Ministry of Transport on the state of the aviation market in the first half of 2022. The domestic market has completely recovered and “boomed” in June, according to the report, with an increase of 38.8 per cent compared to pre-pandemic. The international market is also recovering gradually as airlines increase flight frequency and reopen or open routes.

Vietnam’s aviation sector has posted the strongest post-pandemic recovery in the world.

Report from World Bank on Vietnam’s macro-economic situation notes achievements but also risks posed by inflation.

The annual Vietnam Business Forum (VBF) was held on February 21 in Hanoi, with the participation of Prime Minister Pham Minh Chinh. Representatives from the business community made a host of suggestions to contribute to the recovery of Vietnam’s economy. At the same time, the role and responsibility of enterprises in the development of a stable and sustainable global value chain were also addressed.

The difficulties from Covid-19 have awakened consumer businesses and sparked their creative potential to actively adapt and create momentum for new development.

Vietnam’s economic recovery and development program will focus on 2022 and 2023 but may take longer for some large-scale investment projects, Deputy Minister of Planning and Investment Tran Quoc Phuong has said. The implementation of solutions will mainly involve fiscal and monetary tools.

In a recent report, the World Bank (WB) pointed out that many of Vietnam’s socio-economic indicators are showing signs of a positive recovery. It believes the country’s economy has improved and will continue to grow.

Vietnam’s labor market was hit hard by Covid-19 but 70 to 75 per cent of workers have returned to industrial zones and processing zones, with the figure even reaching 90 per cent in some localities, according to Minister of Labor, Invalids and Social Affairs Dao Ngoc Dung. He also predicted that the labor market will return to normal by the second quarter of 2022.

At a regular conference of the government, the Deputy Minister of Planning and Investment spoke of Vietnam’s socio-economic recovery and development program, which features five main groups of solution.

Ho Chi Minh City’s economy was one of the hardest hit by the fourth wave of Covid-19, but with its overall capacity remaining intact, well-targeted, fast, and effective recovery programs are being implemented and will enable it to accelerate its development from 2022. Nearly VND30 trillion ($1.32 billion) is needed for such programs.

Six per cent of enterprises in the wood industry surveyed by the Vietnam Timber & Forest Products Association said their revenue in 2021 will remain unchanged compared to 2020, while 37 per cent expect to see lower revenue and only 17 per cent anticipate higher revenue. The results are positive compared to previous predictions about the industry.