MACROECONOMICS WEEKLY UPDATE

In general, in the 10 months of 2022 IIP was estimated to increase by 9% over the same period last year (in the same period in 2021 by 3.8%). Of which, the manufacturing increased by 9.6% (the same period in 2021 by 5.1%), contributing 7.4 percentage points to the overall growth; Electricity, gas, steam and air conditioning supply by 7.8%, contributing 0.7 percentage points; Water supply; sewerage, waste management and remediation activities increased by 6.6%, contributing 0.1 percentage points; the mining and quarrying increased by 5%, contributing 0.8 percentage points to the overall growth rate.

In October 2022, 4,058 enterprises ceased for a certain time, an increase of 38.3% compared to last month and an increase of 16.2% compared to the same period in 2021; 4,200 enterprises temporarily ceased and awaited dissolution procedures, an increase of 0.3% and up 37.8%; 1,602 enterprises completed dissolution procedures, an increase of 5.7% and up 98.8%.

Passengers transport in October 2022 was estimated at 296.4 million passengers.Generally, in 10 months of 2022, passenger carried estimated at 3,086.7 million passengers, up 44.9% over the same period last year and passenger traffic reached 146.1 billion passengers.km, an increase of 68.8% . In which, domestic transport reached 3,083.2 million passengers carried, up 44.7% over the same period last year and 134.5 billion passengers-kilometers.

Out of a total of nearly 2,357.2 thousand international visitors to Vietnam 10 months of this year, visitors coming by airway gained 2,093.7 thousand persons, accounting for 88.8% of the number of international visitors to Vietnam, 24.9 times higher than the same period last year; by roadway achieved 262.8 thousand arrivals, accounted for 11.2% and 6.5 times higher; by seaway achieved 745 arrivals, accounted for 0.03% and increased by 49.3%.

Over the 10 months of this year, there were 9.212 traffic accidents nationwide, including 6.430 traffic accidents of less serious or more and 2.782 traffic collisions. Compared to the same period last year, the number of traffic accidents in the ten months of this year increased by 3.1%. The number of deaths increased by 15.4%; the number of injured people increased by 10.4% and the number of minor injuries decreased by 11.7%

The Consumer Price Index for this week increased by 0.15% mom and +2.89% avg ytd. For the  gold price index increased at  6.08 % similarly the dollar price index increased from 1.17%  avg ytd. 

At the same time the implemented FDI went up at 12.3% ytd, however, the registered FDI has decreased from   5.4%ytd. For the state investment news, a positive increase from 20.1% ytd ,similarly, the statement budget also went up by 16.2% ytd(+) and 6.3% ytd (-). For the import production for the week it had a positive outcome with 12.2% ytd along with the increase of the export production of  15.9% ytd. For the week’s index industrial production It went up to 6.3% yoy , 9% ytd, and lastly, for the Retail sales of goods and services it increased by 20.2% ytd. 

To sum it all up it is Expected that for 2022 the GDP growth rate  will be 8%.

INDUSTRIAL BREAKDOWN

The beer products has shown  the most significant increase in terms of production industry  followed by the seafood industry , phone components , car paint and many more, even so , the industries related to Machine water, aluminum , sugar are some of the lower percentage of production

INVESTMENT DEVELOPMENT UPDATE  

Wholesale and retail, processing industry, construction, science and technology, real estate business are just some of the top new enterprises that the country has welcomed for the week. As for foreign countries  with new level projects (millions USD) Japan is reported to have the  highest spending rate  followed by Singapore and Denmark and other more countries across the globe.

INDUSTRY   

The State Bank of Vietnam temporarily suspended the issuance of bills, net injected nearly VND 50,000 billion in the past 2 days.

The strong net injection of the SBV took place in the context that VND interest rates in the interbank market tended to increase sharply.

The Ministry of Construction wants 1.4 million units of social housing built by goge at a cost of VND1,130 trillion ($45.45 billion) and laws updated to enable this,In a proposal to the government, it said the main locations for developing social housing are Hanoi, Ho Chi Minh City, Da Nang, Can Tho, and Hai Phong cities.

Mr. Nguyen Phuoc Ngoc, former general director of Saigon Real Estate Corporation – Resco, is accused of violating the management and use of State assets Mr. Ngoc and Nguyen Tin Trung. 66 years old, former Chairman of the Members Council (BOD) of Resco, were detained by the Ho Chi Minh City Police for violations of regulations on management and use of State assets, causing losses. Waste under Article 219 of the Penal Code, dated 3/11,Resco is a 100% state-owned enterprise, belonging to the People’s Committee of Ho Chi Minh City. Regarding the case that happened here. 4 other people who are members of the Members’ Council and the controller were also prosecuted but were released on bail

VIETNAM  INDEX UPDATE 

S91% of stocks listed in Hose was in red 29/30 stocks in VN30 was falling, 2 stocks lost ~7% (biggest dip allowed on a single day) accounted for real estate sector)