Standard Chartered anticipates accelerated recovery in Q2
- 165
- Business
- 17:27 13/04/2022
In its recent study titled Vietnam – Recovery to gain momentum Quarter 2, Standard Chartered maintains its GDP growth forecast for Vietnam at 6.7 per cent, as the bounce in economic indicators has become broader.
Sự phục hồi có thể sẽ tăng tốc đáng kể vào cuối quý II khi nhu cầu trong nước và du lịch phục hồi. Tuy nhiên, sự không chắc chắn trong ngắn hạn vẫn tiếp diễn sau các sự kiện toàn cầu gần đây.
Tim Leelahaphan, economist for Thailand and Vietnam at Standard Chartered said, “The government lifted its quarantine requirement for international arrivals in mid-March. We think the reopening of tourism, which accounts for close to 10 per cent of GDP, is the key development to watch after its two-year closure.”
Standard Chartered's experts believe that the country continues to be a manufacturing centre and an important link in the global supply chain, despite geopolitical and pandemic-related concerns in recent years. After shrinking in 2021, foreign direct investment has been increasing this year.
The bank anticipates that this will continue, notably in sectors such as manufacturing, electricity, gas, and air conditioner supplies.
Leelahaphan added, “Foreign investors remain the key driver of Vietnam's contribution to the global supply chain. Several major global tech companies have shifted production from China in recent years to diversify their supply chains. Vietnam remains attractive as a regional manufacturing hub for sectors including electronics, textiles, garments, and footwear.”
Standard Chartered maintains its inflation predictions for 2022 and 2023 at 4.2 per cent and 5.5 per cent respectively.
Supply-side variables increase the likelihood of inflation rising, even more so given the current geopolitical environment.
As the economy improves over the longer term, demand-push inflationary forces are anticipated to kick in. The bank believes in a favourable outlook for local currency, owing to a positive external balance.
The dollar exchange rate is forecast at 22,300 by the end of the year and 22,000 by Q4 2023.
According to vir.com.vn
Related news
#supply chains
Vietnam becoming key market for big-thinking logistics groups
Logistics firms are pinning high hopes on the recovery of Vietnam's supply chains, following their scheme to scale up business activities.
Supporting enterprises to join the global supply chain: Opening doors to opportunities and prosperity
Creating a favorable environment for enterprises to participate in the global supply chain not only generates economic benefits but also contributes to the sustainable development and prosperity of the country.
Removing policy "bottlenecks" and increasing connectivity for the development of the supporting industry
The supporting industry plays a crucial role in promoting development and enhancing competitiveness. To develop this sector robustly, it is necessary to remove policy "bottlenecks" and increase connectivity within the industry.
Textile enterprises need to change production strategies
To participate in the supply chain, textile enterprises must change their production strategies through process improvements, innovation in machinery and equipment, technology updates and greening of production stages to enhance quality.
Đọc thêm Business
Dongtam Group partners with CS Wind Corp to build a wind power equipment factory
Dong Tam Group (DTG) and CS Wind Corporation (CS WIND) have officially signed a Memorandum of Understanding (MOU).
Young entrepreneurs innovating but must ensure stable business foundations
"The world is undergoing significant changes, bringing both opportunities and challenges for businesses, especially in fields such as artificial intelligence, international trade, and investment"
Why is Vietnam always attractive to foreign businesses?
Vietnam attracts foreign businesses thanks to its favorable investment environment, abundant labor, and competitive costs. Open-door policies and free trade agreements also enhance the country's appeal to global investors.
Apartment prices continue to rise far beyond workers' incomes
Apartment prices continue to rise sharply, increasingly out of reach for workers' incomes. This gap not only creates significant financial pressure but also makes homeownership increasingly difficult for the majority of people.
The stock market faces increasing selling pressure, VN-Index sank into the red
The strong selling pressure across the market, especially in the blue-chip stocks, has caused the VN-Index to drop sharply, even falling below the 1,270-point mark at times.
VREC and HREC create opportunities for member businesses to connect with Nippon Paint Vietnam
Recently, at the headquarters of Nippon Paint Vietnam, the Vietnam Real Estate Club (VREC) and the Ho Chi Minh City Real Estate Club (HREC) successfully organized a networking event for member businesses.
Cash flow real estate: New investment trend in 2024
Cash flow real estate has become an investment trend in 2024 due to its stable profitability from leasing and business operations. Interest in this type of real estate demonstrates the demand for sustainable profits in an uncertain economic context.
Is the gold price stabilization policy truly effective?
Dr. Bùi Duy Tùng, an Economics lecturer at RMIT University, assesses the pros and cons of the gold price stabilization policies implemented by the State Bank of Vietnam (SBV) in recent times.
Why is there a need for a development proposal in the field of cultural industries?
In the context of globalization and the booming creative economy, cultural industries are increasingly important in national development strategies. Vietnam needs a development proposal in this field to tap into its potential.
Mastering Real Estate Business Law to be ready for the next growth cycle
In the context of the changing real estate market alongside new legal regulations, understanding the Real Estate Business Law is a crucial factor for businesses and investors to seize opportunities and prepare well for the new cycle.