Despite near-term trade headwinds, tourism has emerged as a source of growth for Vietnam to mitigate the challenges ahead in 2023, according to the “Vietnam at a glance” report released by HSBC on February 6.
Foreign experts have dubbed the Vietnamese economy as a miracle in Asia and a bright spot of economic growth in Asia-Pacific as a result of the Vietnamese Government’s sound and effective economic management policies.
Vietnam’s economic recovery will be stronger in the second half of 2022, particularly as the country resumed its tourism activities after a two-year closure, according to Standard Chartered’s latest Vietnam report.
Vietnam has become the newest market financed by HSBC’s Female Entrepreneur Fund, which targets the provision of 1 billion USD in funding for eligible female business founders worldwide.
Vietnam has one of the newest and most dynamic start-up scenes in Asia, and it has emerged as a hub for start-ups, according to the recently released Emerging Giants in Asia Pacific report.
In the first half of the year, Vietnam welcomed 602,000 international visitors, up 6.8 fold compared with the same period last year. This is a positive sign toward economic recovery amid a variety of challenges.
Up to 21 percent of Indian firms operating or intending to operate in Southeast Asia plan to expand their business in Vietnam in the next two years, and the ratio is 26 percent among Chinese enterprises, according to a HSBC survey covering more than 1,500 companies from six of the world’s largest economies – all of which have operations in Southeast Asia.
According to HSBC, despite the local disruption due to the COVID-19 pandemic, Vietnam continues to benefit from stable FDI inflows from giants in the technology industry, including familiar corporations and new direct investment.
The HSBC has forecast that Vietnam's inflation will increase 3.7 percent, still below the inflation ceiling of 4 percent set by the State Bank of Vietnam (SBV).
Tim Evans, CEO of HSBC Vietnam, said that in order to maximise its potential in the coming years, Vietnam needs to anticipate a series of seismic events in the world that are forecast to shape the future.
HSBC Vietnam has signed a Letter of Intent (LoI) for evaluating and providing financing solutions with a focus on sustainability with the Trung Nam Construction Investment Corporation (Trungnam Group), one of the largest renewable energy developers in Vietnam, according to Saigon Giai Phong newspaper.
HSBC Vietnam on January 25 announced its commitment to arranging up to 12 billion USD of direct and indirect sustainable financing for Vietnam and the corporate sector in the country by 2030.
The US-based Fibre2Fashion portal has recently run an article highlighting several foreign financial organisations’ relatively positive predictions for Vietnam’s economy, saying that its growth is expected at 6.5-6.7 percent in 2022.
Vietnam’s economy should get back to GDP growth of 6.8 per cent next year, which will be driven by a return of strong foreign direct investment into the market, mainly focusing on the manufacturing sector, according to HSBC Vietnam.
Vinpearl, a major hospitality-recreation developer and operator in Vietnam, has successfully issued a 425-million-USD Exchangeable Sustainable Bond (ESB), exchangeable into shares of its parent company Vingroup.
Vietnam always finds a way to overcome obstacles and challenges, Chief Executive Officer (CEO) of HSBC Vietnam Tim Evans said when giving comments on Vietnam’s economy and its GDP growth prospects.
The Hong Kong Shanghai Banking Corporation (HSBC) has revised upward its forecast for Vietnam’s economic growth next year to 6.8 percent from the previous 6.5 percent.
Vietnam posted the fastest growth in Asia in 2020 and will once again be among the most outstanding performers in the region this year, according to the Hong Kong Shanghai Banking Corporation (HSBC).
HSBC Vietnam has teamed up with World Wide Fund For Nature (WWF) Vietnam in rolling out a project worth 10 billion VND (431,800 USD) to recover submerged forests at the Ca Mau Cape National Park in the southernmost province of Ca Mau.
Vietnam’s effective COVID-19 control measures to date and gradual yet prudent reopening has enhanced its attractiveness as a business destination, HSBC said in its Navigator report themed “Building Back Better”, released on July 21.
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