The stock market ended 2020 with diverse notes, from the selloff in Q1 which sent the VN-Index down to 660 points, the lowest in four years, to the recovery and strong rally, especially in Q4 despite the strong impact of Covid-19 on the global economy. What is the driver for the market confidence in 2021?
The Vietnamese Government has decided to “minimise the number of inbound flights” into Việt Nam until after the Tết (Lunar New Year) holiday as more contagious variants of coronavirus have been recorded up in many countries.
The State Bank of Vietnam (SBV) targets a credit growth rate of 12 percent in 2021, equivalent to the growth of 12.13 percent last year, according to SBV Deputy Governor Dao Minh Tu.
Hanoi’s condominium supply volume and sales are expected to improve in 2021, with between 24,000 and 26,000 units to be put on the market, CBRE Vietnam said at a January 7 event to announced its Q4 2020 quarterly report.
This year, the Ministry of Science and Technology will focus on building national sci-tech development plans for the next five years to promote socioeconomic development in the new era.
Total insurance premiums were estimated at VND184,662 billion in 2020, representing a year-on-year growth of 15%, according to the Ministry of Finance. Non-life insurance premiums were projected at VND57,102 billion, up 8% over 2019, while life insurance premiums were forecast at VND127,560 billion, up 19.6%.
Vietnam's textile and garment industry have made great progress and managed to take advantage of free trade agreements (FTAs) such as Vietnam - Korea FTA, Vietnam-Eurasian Economic Union FTA (Vietnam - EAEU FTA), Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and European-Vietnam FTA (EVFTA), according to a report released by the Ministry of Industry and Trade.
Vietnamese Minister of Industry and Trade Tran Tuan Anh and U.S. Trade Representative Robert Lighthizer have discussed economic and trade issues between the two countries over the phone.