Vietnam consumer confidence index rises to record high

Vietnam surpassed Indonesia to rank third in consumer confidence in the first quarter behind only the Philippines and India, according to the latest Conference Board Global Consumer Confidence Survey conducted in collaboration with global measurement company Nielsen.
Vietnam consumer confidence index rises to record high ảnh 1Consumer confidence index in the Asia Pacific in the first quarter of this year. (Source: Nielsen Vietnam)

Hanoi (VNS/VNA) - Vietnam surpassedIndonesia to rank third in consumer confidence in the first quarter behind onlythe Philippines and India, according to the latest Conference Board GlobalConsumer Confidence Survey conducted in collaboration with global measurementcompany Nielsen.

With aseven point increase from the fourth quarter last year, Vietnam hit a record129 points in the Consumer Confidence Index (CCI). Vietnam’s was the biggestgain in the Asia Pacific.

Globallyand in the region the CCI was steady, respectively edging down by one point andrising by one point from Q4 last year.

Vietnam’soverall confidence level was high above the regional average (more than 12points above).

ThePhilippines (133 points) and India (132) topped the highest CCI. Singapore sawthe biggest decline of four points and finished the quarter with 92.

Vietnam’sstrong rise was due to the confidence in job prospects and personal finances,and the level of willingness to spend by the population.

“Thissignificant increase in consumer confidence indicates that consumers continueto see positive changes for themselves and their families,” Nguyen Huong Quynh,managing director of Nielsen Vietnam, said.

“Manufacturersand retailers need to capture the latest trends in the consumer market and needto act faster to respond to the evolving needs of consumers,” she said.

Duringthe first quarter, all key drivers of Vietnam’s CCI, including job prospects,financial security and willingness to spending, increased significantly. 

Approximatelythree-quarters of the people surveyed believed they have good or excellent jobprospects.

Eightytwo percent of respondents said they would be in good or excellent financialstate in the next 12 months.

Sixtyseven percent said they were ready to spend, an increase of 4 percentagepoints.

Vietnameseconsumers continued to rank job security and health as two factors they carethe most about, followed by economic growth and work-life balance.-VNS/VNA
VNA

See more

Representatives from industry associations share insights on Vietnam’s market trends. (Photo: VNA)

Vietnam, Thailand boost industrial trade exchange

Trade between Vietnam and Thailand reached 20.18 billion USD in 2024, up 6.4% year-on-year. Thailand remained Vietnam’s top ASEAN trade partner, accounting for 24% of its total trade with the bloc.

Representatives from Lao and Vietnamese agencies at the signing ceremony. (Photo: VNA)

Vietnam, Laos strengthen energy cooperation

A 1,200 MW wind power plant in Nong district, Laos’ Savannakhet province is expected to export 1,526 kWh to Vietnam annually once its first phase completes by the end of 2027, and additionally 1,112 million kWh per year after its second phase becomes operational in 2030./

A view of the Hanoi skyline. While rental properties continue to be in demand, there has also been a notable rise in the number of foreigners looking to buy houses. (Photo: VNA)

Housing demand from foreigners in Hanoi rises

Over several years, Hanoi has increasingly become an attractive destination for foreign workers, with approximately 10,000 new foreign workers are granted licences to work in the city each year.

A high-tech corn, sorghum and grass farm in Nghe An province (Photo: VNA)

Realising circular economy to achieve sustainable development goals

Developing a circular economy has been recognised as one of the priority directions to achieve overarching goals such as waste management, efficient resources utilisation, environmental protection, disaster prevention, and climate change adaptation in the country's next development phase.