Vietnam’s economy sees recovery momentum in Q2: HSBC
Despite a gloom in the Purchasing Managers’ Index (PMI) in the region, Vietnam’s PMI continued to expand, reaching a ten-month high of 52.7 in May from 52.3 in the previous month.
Hanoi (VNA) – 🌺Despite a gloom in the Purchasing Managers’ Index (PMI) in the region, Vietnam’s PMI continued to expand, reaching a ten-month high of 52.7 in May from 52.3 in the previous month.
According to the latest report on the prospects of Vietnam's market released by t he Hong Kong and Shanghai Banking Corporation (HSBC), economic indicators in the second quarter of this year showed a strong recovery of the national economy.
The number of new orders rose sharply, indicating that manufacturing operations are likely to grow in June. The index of industrial production and exports also recorded consistant growth in the period.
The lingering El Nino will likely continue to affect agricultural output, the report said, however, it also forecasts that the strong development of manufacturing industries and services will lift the GDP growth in this quarter to 6.1 percent.
HSBC also kept its GDP forecast in the whole year of 2016 unchanged at 6.3 percent.
The bank put forward medium-term solutions on financial reform in Vietnam, including broadening the base of profit, and adjusting accounting methods in line with international standards.
Administrative measures to restrain tax evasion, the announcement of tax fraud cases and the simplification of the VAT refund process will be helpful solutions, the report stated.-VNA
Vietnam has strengthened its position, and could become the world’s 10th biggest exporter by 2050, with its export value reaching 1,437 billion USD, the HSBC forecast in its recent report.
Analyst Jayant Rikhye from the Hong Kong and Shanghai Banking Corporation (HSBC) has stated that underestimating the Association of Southeast Asian Nations (ASEAN) would be a mistake.
HSBC attributed the resilience of Vietnam’s manufacturing sector to the country’s rising attractiveness as a manufacturing hub, which helped reel in record FDI in 2015 and should boost exports in 2016
Some foreign economic and financial organisations have maintained an optimistic outlook for Vietnam’s economy in 2016, in spite of the recent slower than expected GDP expansion.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
Illustrative image (Source: VNA)
