Profit growth vs revenue growth

Vietnam has high regional growth prospects, predicted at more than 6.5% in 2022. (Infographic by Oxford Economics) Hanoi (VNS/VNA) - The economic recovery across the South-East Asian region has been uneven and must now contend with rising external headwinds from outside the region. Vietnam is predicted with a high growth prospect in the region, at more than 6.5% in 2022, 0.7% higher than the average growth of 5.8% for the whole region. This was a key finding from the Economic Forecast presented by the experts at the Institute of Chartered Accountants in England and Wales (ICAEW) Economic Insight Forum Q2. Vietnam was able to bounce back relatively quickly in 2021 compared to the rest of the region. With the easing of restrictions from last year’s Q4 that carried over to this year’s Q1, there has been a significant recovery in its services sector driven by domestic tourism. With the current endemic phase, there should be a boost on the international tourism front as … [Read more...] about Vietnam’s growth to rise by 6.5% in 2022: ICAEW

According to ICAEW, Vietnam was able to bounce back quite quickly in 2021 as compared to the rest of the region. With the easing of restrictions from last year’s fourth quarter that carried over to this year’s first quarter, there has been a significant recovery in its services sector driven by domestic tourism. Additionally, there should be a boost on the international tourism front as travellers return to Vietnam. Realised foreign direct investments inflow into Vietnam this year should provide support for construction and labour and also improve export capacity, which still remains healthy. It was noted that Vietnam was not particularly affected by the Delta variant wave, and hence did not experience large lockdowns that impacted its economy as much as Malaysia and the Philippines did. The economic recovery path chartered across Southeast Asia has been uneven and must now contend with rising external headwinds from outside the region. Despite that, an average … [Read more...] about Vietnam’s GDP growth forecasted to hit 6.5 per cent in 2022

A series of measures for flexible and safe adaptation to the Covid-19 pandemic helped ensure Hanoi’s speedy socio-economic recovery. Hanoi’s gross regional domestic product (GRDP) in the first six months of 2022 is estimated to expand by 7.79%, representing a 1.29-fold increase against the same period of last year, according to the municipal People’s Committee. Production at Dong Anh C&F Company. Photo: Duy Khanh “A series of measures for flexible and safe adaptation to the Covid-19 pandemic helped ensure Hanoi’s speedy socio-economic recovery,” stated the authorities’ report. To date, 99.9% of locals above 18 years of age and children aged 12-17 have been vaccinated with the second dose, while in those aged 5 to 12, the rate is 70%. According to the municipal authorities, the high vaccination rate has been one of the key factors for Hanoi to reopen its economic activities and lay the foundation for growth. During the six months, the city’s state … [Read more...] about Hanoi GRDP growth hits 7.79% in first half

Generali Vietnam introduces services to customers. The company reported a positive business result in the first quarter of this year. — Photo Courtesy Generali Vietnam Insurer Generali posted positive growth in the first quarter of this year, highlighted by gross written premiums increasing by 6.1 per cent to 22.3 billion euros (US$23.4 billion). In its latest announcement, the company confirmed that “business development in the most profitable segments demonstrates the group’s ability to consistently generate value, while maintaining a solid and industry-leading capital position.” Operating results rose to 1.6 billion euros ($1.7 billion), up by 1.1 per cent, thanks to the positive performance of the life, property and casualty (P&C), holding and other businesses segments. The life segment showed an increase in its operating result by 7.2 per cent and confirmed excellent profitability, with the new margin at 4.94 per cent. The operating result of the P&C segment … [Read more...] about Generali announces positive growth in Q1

In the framework of the conference, investors raised many questions about the procedures for receiving investment licences, investment opportunities, and solutions to deal with difficulties, and all of them received satisfactory answers. The organising board also organised two press corners to clarify more information about the strengths of the provinces and the efforts to reform policies. Speaking at the conference, Hoang Thi Thuy Lan, Secretary of Vinh Phuc Party Committee said that direct investment projects and projects from Japanese investors contributed an important role in fostering the province’s socioeconomic growth, simultaneously laying the foundation for tightening the relationship between the two countries. “The investments of Toyota and Honda in Vinh Phuc, which were two of the first Japanese investors, established a solid foundation for the economic cooperation between the province and Japan. The two parties expanded the cooperation to other sectors, such as trade, … [Read more...] about Vinh Phuc attracted 700 delegates to conference on Vietnam-Japan ties