Vietnam economy continues to strengthen, reports VDSC
Optimism for the year ahead has been improved to the highest thanks to the country's effective control of Covid-19 pandemic.
Optimism for the year ahead has been improved to the highest thanks to the country's effective control of Covid-19 pandemic.
While purchasing activity and employment were scaled back, business sentiment improved to a 16-month high.
Close attention should be on the capacity of the Vietnamese economy to firm up its recovery from the coronavirus crisis, noted the World Bank.
Anecdotal evidence suggested that success in bringing the Covid-19 outbreak under control in Vietnam had helped lead to a recovery in customer demand.
The Vietnamese manufacturing sector returned to growth in September as concerns around the outbreak of the Covid-19 pandemic in the country eased.
Although marked, the latest decline in business conditions was much less severe than that seen during the worst of the Covid-19 related downturn in April.
HSBC has raised its 2020 growth forecast for Vietnam to 3.0% from 1.6% previously, reflecting its renewed assumptions of Vietnam’s speedier economic rebound.
The Vietnam Manufacturing Purchasing Managers' Index (PMI) posted 51.1 in June, up from 42.7 in May and above the 50.0 no-change mark for the first time in five months.
Following 48 straight day period without new cases of Covid-19 infection, the majority of social activities have returned to normal, said Prime Minister Nguyen Xuan Phuc.
The sector saw a softer contraction than in April as the Covid-19 pandemic was brought under control in Vietnam.