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Vietnam’s resilient stock market

VOF-Vietnam-resilient-stock-market

The VN-Index is up ~10% YTD driven by an expected 19% increase in FY2024 earnings, and strong buying of Vietnamese stocks by local retail investors – in contrast to heavy foreign selling this year. The rebound in earnings growth from a 5% drop last year to 19% growth this year is supported by an acceleration […]

Tourism surge boosts Vietnam’s economy

VOF-Tourism surge boosts Vietnam’s economy

The number of international tourists visiting Vietnam surged 65% yoy in 5M24, and is now slightly above pre-COVID levels, despite the fact that Chinese tourist arrivals in Vietnam – and in the rest of Asia – remain well below 2019 levels. Chinese tourists previously accounted for one-third of Vietnam’s total foreign tourist arrivals and China […]

Export recovery propelling logistics & industrial park stocks

VOF-Vietnam-market

The recovery of exports has had a positive impact across several sectors of Vietnam’s economy – it was largely responsible for the country’s 5.7% GDP growth in 1Q24, a significant boost1 from the 3.4% growth recorded in 1Q23. Exports to the US, Vietnam’s largest market, rebounded from a 21% drop in 1Q23 to a 24% […]

Gold, the US Dollar and interest rate: What it all means for Vietnam

VOF-Gold-the-US-Dollar-and-interest-rate-What-it-all-means-for-Vietnam

As of this writing, the USD-VND exchange rate has depreciated 4.5% YTD, a level at which the State Bank of Vietnam (SBV) has in the past taken concrete action to support the Dong. The value of the VN Dong has never depreciated by more than 3.5% in any calendar year since 2015, even in years […]

Vietnam’s export recovery gains momentum

VOF-Vietnam’s export recovery gains momentum

In 2023, Vietnam’s exports fell for the first time since the Global Financial Crisis (GFC), which weighed heavily on the country’s 2023 GDP growth; exports averaged nearly 90% of GDP over 2019-22. Exports resumed growth in Q4, and surged 42% yoy in January, supported by a 33% leap in high-tech products, which account for one-third […]

Looking ahead at 2024

VOF-Looking-ahead

After a challenging 2023, all indications are that 2024 should be a stronger year for Vietnam’s economy, driven by a rebound in the manufacturing sector and an improvement in consumer sentiment. In addition, the plunge in interest rates throughout 2023 should help boost the real estate market after having helped support the stock market last […]

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