Small and growing businesses are key contributors to Vietnam’s economic growth, accounting for 40% of GDP and 60% of total employment in 2018.
The Q3-2021 lockdowns affected about 28.2 million workers, including a loss of 2.5 million in jobs and an increase in the unemployment rate to a record high 3.7 percent.
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Vietnam’s economic recovery is likely to accelerate in 2022 as GDP growth is expected to rise to 5.5% from 2.6% in the year just ended, the World Bank’s economic update for Vietnam Taking Stock says.
According to Standard Chartered’s economists, exports should be supported in 2022 by a continued improvement in the global trade environment, although import growth is likely to remain high.
The loan is accompanied by a $750,000 technical assistance grant to help TPB better meet the needs of WSMEs.
The Government of Vietnam and the World Bank have signed a US$126.9 million financing agreement to improve access to infrastructure, connectivity and reduce flood risk in the urban core of Vinh Long City.
After over 1 month of operations in Ho Chi Minh City, GoCar is coming to Hanoi users, starting with the GoCar Protect safety and hygiene service line.
Mr. Rockhold has been living and working in Vietnam since 1992 and serves as the Chief Executive Officer of Chan May LNG JSC to implement climate change projects and help Vietnam meet its energy security needs.
While favourable base effects partly explained the surprisingly high growth, the level of exports nonetheless returned to the pre-Delta variant level. Among the most affected sectors, textiles have gradually recovered (up 25% y-o-y), but the footwear industry is still impacted (down 14% y-o-y).
Fading protection in 2021. Vietnam’s ability to guard against external risks has been strong over the years, thanks to its shift to a current account surplus, as its trade surplus widened. However, the protection is fading in 2021.
Fitch’s ratings are driven by the institutional support from100% shareholder, Standard Chartered Bank, for Standard Chartered Vietnam given itsimportant role in the group's broader South-East Asia strategy.