In the event of a property downturn in Vietnam, developer-related exposures would pose the greatest risk for banks, in Fitch's view, but residential mortgage quality could also be affected in more significant market downturn scenarios.
“We still have conviction on Vietnam’s high growth potential over the medium term.” said Tim Leelahaphan, Economist for Thailand and Vietnam, Standard Chartered.
After growing over 17% y-o-y in the first three quarters of 2022, export growth of Vietnam sharply moderated in October, with November seeing the first meaningful y-o-y decline in two years.
The Partnership will support Vietnam to deliver on its ambitious Net Zero 2050 goal, accelerate the peaking of its greenhouse gas emissions and transition away from fossil fuels to clean energy.
Vietnam has landed a $15.5 billion partnership with funders led by the European Union and the UK to help finance its transition away from coal.
In Vietnam, ADB announced that it is estimated that only 43% of women have access to sanitary pads while only 52% of mothers use diapers for their infants.
In three years before COVID-19, Vietnam experienced one of the world’s fastest growth rates in investment in solar power. The country surpassed Thailand in 2019 to enjoy the greatest installed solar power capacity in ASEAN.
Pomelos and limes are the fourth and fifth fruit able to be exported from Viet Nam to New Zealand, after mango, dragon fruit and rambutan.
While global uncertainty persists, Vietnam 's prospects are reassuring. Although The World Bank predicts a weak 2.8% global growth for 2022, Vietnam is expected to grow 7.2%.
The 7-year tenor financing comprises a $20 million loan funded by ADB, parallel loans of $87 million facilitated by ADB as mandated lead arranger, and concessional financing of up to $28 million.
Vietnam has obtained many notable achievements in sustainable poverty reduction, coverage of essential health services, universal education, access to clean water and sanitation, information technology infrastructure.
Recently, Unilever Vietnam and VietCycle cooperated in the event to recognize informal waste collectors in Hanoi’s event.
After tying for 100th place when the ranking was first published in July 2021, Cambodia and Vietnam have achieved a dramatic turnaround, ranking in the top 10 for four straight months.