Standard Chartered Bank expects Vietnam’s growth to slow to a multi-year low of 3% this year on soft external demand, with external headwinds set to offset domestic outperformance.
Vietnam’s economic growth is forecast to shrink to 3.3% this year due to the impact of a raft of external challenges, according to the latest economic outlook released by Standard Chartered Bank on April 23.
Sustainable infrastructure investments are becoming the norm and enabling stable economic and social growth in Vietnam, Nirukt Sapru, CEO, Vietnam and ASEAN & South Asia Cluster Markets at Standard Chartered Bank, said at a recent conference in Ho Chi Minh City.
Trade readiness improvements and economic dynamism are driving Vietnam’s trade growth potential.
Reporting 50.6 trillion VND (2.17 billion USD) in before-tax profit in 2018, the Vietnam Oil and Gas Group (PetroVietnam) has become the most profitable corporation in the country.
Vietnam is expected to remain the fastest-growing economy in the Association of Southeast Asian Nations (ASEAN) in the near term, with 2019 growth projected at 6.9%, Standard Chartered said in its latest macroeconomic research report.
E-commerce and e-payments in Vietnam have been growing quickly alongside each other in recent years, with the rapid development of the former said to be the booster for the latter’s continuous expansion in the future.
Despite recent drops in the VN-Index, Vietnam is still seen as a major destination for mergers and acquisitions in Asia.
Standard Chartered Bank expects Vietnam’s rapid growth of 7% year-on-year in 2018, higher than its previous forecast of 6.8%, with all domestic engines firing together.
VOV.VN - 2017 was a successful year for Vietnam boasting many new economic records with GDP rising to 6.81% in 2017 - the highest figure the country has recorded over the past ten years.
Standard Chartered Bank (SCB) on October 6 increased its forecast for Vietnam’s GDP growth rate for the whole year to 6.8 percent, higher than the Government’s set target of 6.7 percent.
Both foreign and domestic banks are racing to develop retail sale strategies in Vietnam, the 93-million-people country-a fertile land for banking retail business.
Alongside the state’s recent legislative support for the small and medium sized enterprises (SME) sector, the financial acumen of international lenders is proving invaluable in taking the next step.
The Monetary Authority of Singapore (MAS) has imposed penalties on the local units of two UK-based banks – Standard Chartered and Coutts – for breaching anti-money laundering (AML) rules related to Malaysia's 1MDB fund.
Vietnam’s Agribank has received the 2015 Operational Excellence Award from Wells Fargo, the third-largest wholesale bank in the US, for improving its payment services.
Many foreign banks have recently set up wholly-owned operations or opened new branches in Vietnam.
Google’s mobile payment system, Android Pay was launched in Singapore on June 28, making the country the first in Asia to have the system.
Vietnam’s economy as well as its currency is unlikely to be adversely affected by the UK’s decision to opt out of the European Union.
The exchange rate in 2016 will not have big changes in order to ensure macro-economic stability and support economic growth in accordance with the Government’s orientations, according to Bui Quoc Dung, head of the State Bank of Vietnam (SBV)’s Monetary Policy Department.
Vietnam is an attractive destination for investment amid a lackluster global economy, Nirukt Sapru, CEO of Standard Chartered Bank Vietnam said in a recent report.