Vietnamplus

Following the passing of a 350 trillion VND (approximately 15 billion USD) economic recovery package, the Government is considering the implementation of a cut to VAT.

The Vietnamese stock market has witnessed drastic changes in both quality and quantity in 2021 and the trend will continue this year, BIDV Securities Company said in a recent report.

Vietnam’s gross domestic product (GDP) in 2021 increased by 2.58 percent from the previous year, according to the General Statistics Office.

Malaysia’s gross domestic product (GDP) growth is projected at 6.2 percent in 2022, buoyed by its vaccination accomplishments, according to Standard Chartered’s ASEAN and South Asia chief economist Edward Lee.

The World Bank (WB) has forecast that Vietnam’s economic recovery is likely to accelerate in 2022 as GDP growth is expected to rise to 5.5 percent from 2.6 percent in the year just ended.

Standard Chartered Bank forecasts Vietnam’s recovery will accelerate markedly in 2022, with GDP growing by 6.7 percent.

Some foreign financial organisations have issued relatively positive predictions for Vietnam’s economy this year, with growth expected at 6.5 - 6.7 percent.

In 2021, despite being affected by the COVID-19 epidemic, all three areas of agro-forestry and fisheries, industry and construction, and services posted higher growth rates compared to 2020.

Market capitalisation on the Ho Chi Minh Stock Exchange (HOSE) rose more than 42 percent year-on-year to 5.8 quadrillion VND (254.83 billion USD) by the end of 2021, accounting for 92.77 percent of the previous year’s GDP.

Large retail firms are to gain even more market share this year as smaller competitors have been forced to exit the game after prolonged lockdowns and mobility restrictions during recent years, said industry experts.

Cambodia’s economic growth in 2021 is projected to reach around 3 percent thanks to the strong export of agricultural and industrial products, especially the country’s reopening post COVID-19.

Southeast Asian countries look poised to continue recovering this year from the economic havoc caused by COVID-19 pandemic, with brisk exports driving the rebound, reported Nikkei Asia.

State budget collection in 2022 is expected to reach over 1.41 quadrillion VND (61.7 billion USD), while expenditure is estimated at about 1.78 quadrillion VND (78.05 billion USD), up 4.5 percent compared to that in 2021, according to a report on State budget estimates for 2022 that has been made public by the Ministry of Finance.

The Ministry of Transport is coordinating with relevant ministries and agencies to develop a portfolio of transport projects and specific mechanisms for the implementation of the projects which will form part of the Government’s socio-economic recovery and development programme post-COVID-19, according to Minister Nguyen Van The.

Vietnam has fulfilled several economic targets 2021 despite COVID-19 pandemic, becoming one of the world’s 20 leading economies in terms of global trade, according to an article recently published by Malaysia’s Bernama.

Vietnam’s gross domestic product (GDP) in 2021 is estimated to expand by 2.58 percent from the previous year as the COVID-19 pandemic has imposed adverse impacts on all fields of the national economy, General Director of the General Statistics Office (GSO) Nguyen Thi Huong has said.

Vietnam's target of bringing its GDP growth to 6-6.5 percent in 2022 as set in the recent session of the National Assembly is entirely possible if it can effectively control the COVID-19, and improve the supply – demand balance, an official of the World Bank (WB) has said.

The Indonesian government expects GDP growth in the final quarter of 2021 to exceed 5 percent thanks to eased mobility restrictions and a recovering global economy, according to Finance Minister Sri Mulyani Indrawati.

While sustainable smart cities are considered a solution to sustain international business investments, for Việt Nam experts have advised local cities and provinces to prioritise building them to attract FDI.

Singapore's economy will grow by 4 percent next year, likely be driven by improvements in the construction sector as well as manufacturing and finance, according to a survey of professional forecasters.