Vietnam banks' results in the third quarter of this year have shown easing pressure on asset quality and profitability on the back of an improving economic outlook, says Fitch Ratings in a new report.
VietNam Economic News
The Indian Business Chamber in Vietnam (INCHAM) is organizing a “Business Outlook Seminar Series on India-Vietnam Trade & Investments” on November 2 in Ho Chi Minh City.
The newly-launched outlook provides cohesive insights about national, regional, and global perspectives.
Although global remittances are expected to see a sharp decline as the coronavirus-induced crisis continues to drag on the whole economy, Vietnam’s remittance flow is predicted to see a better outlook as overseas citizens send money back home to their relatives, particularly in the context of the upcoming adoption of mobile money services.
Bilateral trade between Cambodia and Japan was to the tune of $1.54832 billion in the first nine months of this year, down from $1.67958 billion in the year-ago period, data from state-run agency Japan External Trade Organisation (Jetro) show.
With strong market demand and positive economic outlook, Viet Nam’s equity market is becoming a good destination for South Korean investors, thus boosting the influence of foreign securities firms in the domestic market.
Despite the pandemic, a gradual bounce in production and confidence of businesses is expected to continue driving the economy to a brighter outlook next year.
Vietnam’s fourthquarter economic outlook is brighter on the back of a rise in domestic consumption and public investment.
While Vietnam is at risk of being listed as currency manipulator by the US, such a risk appears low, as the US will likely continue to reduce its dependence on Chinese exports by reorganizing its supply chain with other partners.
Brokerages are maintaining a positive outlook for the markets this week with a strong domestic cash flow still pouring in.