Agriculture has long been the backbone of Vietnam’s economy for a number of comparative advantages, such as cultivated land, forest cover, sea territories, tropical climate, and available and cost effective labour, according to Surajit Rakshit, head of Global Trade and Receivables Finance, HSBC Vietnam.

VOV.VN - Despite a number challenges hampering growth, the Vietnamese services sector remains a bright spot, partially offsetting some external weaknesses, according to “Vietnam’s May trade data” report recently released by HSBC.

After a sluggish GDP performance in the first quarter this year, Vietnam is still not out of the woods yet. In particular, it has not seen the light at the end of the tunnel on the trade front, according to an HSBC report.

Although Vietnam always eyes to attract investors from US and Europe, intra-ASEAN investors are so important to the country, especially since foreign direct investment (FDI) is slowing down globally due to the COVID-19 pandemic’s impacts and geopolitical conflicts.

VOV.VN - The nation is rapidly becoming an attractive retail market for companies globally, particularly as many regional and global FDI investors recently revealed their plans to increase capital and expand distribution networks in the Vietnamese market.

VOV.VN - While external woes will likely continue over the near-term, some recovery in the tourism industry may partially cushion some headwinds faced by the national economy this year, according to HSBC experts.

VOV.VN - Foreign direct investments (FDI) has been one of the key catalysts spurring and transforming the nation into one of the most open economies in the region, said Joonsuk Park, head of International Subsidiary Banking and Wholesale Banking at HSBC Vietnam.

VOV.VN - Deputy Prime Minister Tran Hong Ha welcomed Surendra Rosha, co-chief executive of HSBC Asia-Pacific, on February 15, while calling on HSBC to actively join green transformation and green projects in Vietnam.

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.

VOV.VN - As a means of attracting more foreign direct investment (FDI), the nation needs to pay greater attention to training high-quality human resources, promoting administrative reforms, and developing and upgrading infrastructure, according to the European Chamber of Commerce (EuroCham).