HSBC: Vietnam’s economy nhà cái bet88 rebound in 2022

The Hongkong and Shanghai Banking Corporation (HSBC) expects Vietnam nhà cái bet88 regain its steady growth momentum, reaching 6.5 per cent in 2022 despite the Omicron variant creating many risks nhà cái bet88 both Vietnam and the world, according nhà cái bet88 its recently-released “Vietnam at a Glance” report entitled “Happy Ending nhà cái bet88 a Difficult Year”.

At the end of 2021, Vietnam posted fourth-quarter growth of 5.2 per cent year-on-year, which far exceeded market forecasts, according nhà cái bet88 the bank. In particular, manufacturing quickly improved while exports hit a record high, mainly thanks nhà cái bet88 strong increases in global demand for technology products and machinery.

In addition, the service sector started nhà cái bet88 recover, though unevenly across segments. While on-site service industries have benefited from the reopening of the economy, tourism-related industries remain rather bleak, with only about 15,000 tourist arrivals in December.

Production and exports are expected nhà cái bet88 continue nhà cái bet88 lead the way, thanks in part nhà cái bet88 stable FDI commitments. Domestic demand is likely nhà cái bet88 recover further as current restrictions are gradually lifted and the labor market recovers.

The biggest obstacle Vietnam needs nhà cái bet88 pay attention nhà cái bet88, according nhà cái bet88 HSBC, is the ongoing fifth Covid-19 outbreak, especially the emergence of the Omicron variant. However, the country has a better vaccination program, which may help it avoid having nhà cái bet88 re-introduce social distancing on a large scale.

Another concern is inflation, mainly from rising transport costs. The bank forecasts 2.7 per cent this year; lower than the ceiling of 4 per cent set by the State Bank of Vietnam (SBV).

In the context of inflation unlikely nhà cái bet88 be a major concern for the SBV in 2022, the real estate market may attract more attention.