MACROECONOMICS WEEKLY UPDATE

Property rentals drive high. Construction materials company Viglacera has reported  pre-tax profits of VND 2.288 trillion (USD 95.3 million) last year, the  highest since 2010, with real estate accounting share.

Vietnam Maritime Corp reports bigger revenues and is expected to have smaller profits in 2022. Vietnam Vietnam Maritime Corp ( VMIC) recorded consolidated profits of some VND 3.129 trillion ($130.4 million) last year for a year-on-year decrease of 14%.

INDUSTRY   

Vietnam to become SouthKorea’s third largest trade partner Vicknam is expected to surpass trade party of South Korea just behind the China and the US according to news source source 

HSBC ups Vietnam growth forecast to 8.1% and has raised its 2022 growth forecast for Vietnam  from 7.6% to 8.1%, a prediction that if manifested would make the country the second fastest growing economy in ASEAN behind Malaysia.

Vietnam remains an appealing destination forJapanese investors according to  surveys. The proportion of Japanese enterprises that intend to expand their investment in vietnam in the next one to two years is 60%, the highest among Southeast Asian countries.

Vietnam to become one of Apple’s main manufacturing hubs starting as early as May 2023.India , Vietnam and Brazil account for as much as 30% of Apple supplier’s Foxconn production in upcoming years as Apple seeks to diversify its supply chain out of China