Business News

The Mastercard Economics Institute (MEI) has expected modest growth across Asia Pacific in 2024, although regional economies may stabilize and key drivers like exports and tourism approach pre-pandemic levels. The region’s outlook, detailed in the report “Economic Outlook: Balancing Prices & Priorities”, forecast upward trends in economic performance in Singapore, Malaysia, the Philippines and Vietnam.

peaking at the Việt Nam Real Estate Summit 2023 held by Batdongsan.com.vn in HCM City last week, Nguyễn Quốc Anh, deputy general director of the property listing platform, said the Vietnamese real estate market in 2023 has been experiencing positive changes and mirroring a previous cycle.

There will be little room for further reduction in deposit interest rates in 2024 as they have dropped deeply to pre-COVID-19 levels, while the lending interest rate can still be lowered by 1-1.5 percentage points next year, Vietcombank Securities (VCBS) forecast.

This is an event in a series of promotional activities organized by VCCI-HCM in collaboration with the Hong Kong Economic and Trade Office in Singapore (HKETOSIN) and Hong Kong Investment Promotion Bureau (InvestHK) to promote cooperation between Hong Kong - Ho Chi Minh City in particular and Hong Kong - Vietnam in general.

Export turnover of the textile and garment sector is expected to reach US$44 billion in 2024, up 9.2 percent against 2023, according to the Viet Nam Textile and Apparel Association (VITAS). This year, the sector's export value is projected to fall by 9.2 percent year on year to US$40.3 billion due to decrease in orders and price as well as fiercer competition, said VITAS President Vu Duc Giang.

As Viet Nam’s economy still faces headwinds, the authorities could consider extending the implementation of the economic support program (2022-2023) into next year, suggested the World Bank (WB). In its Viet Nam Macro-monitoring November 2023, the WB noted that November data continued to show improvement in economic activities.

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