Focus on ... Newsletter
January 2020
January 28th 2020
EXPORTS ARE EXPECTED TO GROW DUE TO TRADE WAR ON TARIFFS
2018 GDP had performed a little bit slower if compared to 2017 GDP, with 6,8% versus 6,5%. 2019 forecast is showing the same percentage of 2018. There are still no forecasts regarding 2020.
Vietnamese strengths consist in a development strategy based on openness, upscaling and diversification of economy, a large available labour force at low wages, a strong agricultural and natural resources.
On the other hand, Vietnam is showing shortcomings in the business climate, lack of infrastructure, incomplete reform of the public sector and a fragile banking system. Inefficient and indebted SOEs take up 28.4% of capital while representing 0.5% of total number of firms.
However, Vietnamese economy results unaffected by Chinese slowdown and is a potential benefactor of US-China trade war.
Domestic demand will be strong, supported by the tourism sector (7% of GDP in 2017), the growing middle class, increasing wages and rising urbanisation rates. Inflation is set to remain at the upper limit of the authorities’ target, partly due to higher oil prices.
Exports are expected to continue to perform strongly and their outlook is made brighter by the trade war on tariffs, which could be the start of a reshaping of global value chains.
From the political point of view, Vietnamese domestic policy will continue to target corruption and a lack of transparency to increase attractiveness for foreign investors: Vietnam is ranked 68th out 190 countries in the 2018 Doing Business ranking by the World Bank.
Source: COFACE
Vietnam is the 21st largest import economy in the world and also 21st largest export economy.
SkyMinder is the worldwide CRIF platform helping you to take decisions based on high quality information. If you are required to evaluate a business partner in India or in country dealing with companies in Vietnam, a customer or a supplier, during a risk evaluation process or for compliance requirements or a cyber risk assessment, SkyMinder is the right solutions.
Credit Reports: reports with information related to all companies in Vietnam, including firmographics, credit limit, risk indicator, management, shareholders, negative events etc.
Planned revision services: possibility to plan in advance full revision of Credit Report and understand if scenario is stable or something changed.
Compliance Reports: reports with different level of details useful for compliance purposes, from shareholders’ identification (KYC and KYS) to Anti Bribery and Money Laundering lists checks.
KYND Cyber Risk Report: analyses up two web sites to a company assessing the level of cyber risk.
Due Diligence Field Visit: a report realized based an inspection at the company premises.
With SkyMinder you can easily access to the most valuable information from the highest quality local providers in a global layout. Our strengths are: worldwide data availability, attention to market needs, focusing on strategic and helpful information, country specificity with observance of specific rules in terms of data availability; risk level and credit limit always available.
