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/ February 24, 2021

Vietnam’s economy to be Southeast Asia’s growth leader in 2021: Nikkei

In its article, the leading financial newspaper of Japanese media giants Nikkei Inc., said Vietnam is targeting a growth rate of 6.5% this year. The agency stated Vietnam’s exports will likely continue to be supported by US tariffs on Chinese goods and that in order to avoid US tariffs, importers have shifted demand from China to alternative suppliers, with this trend likely to continue. According to the agency, before the pandemic, Southeast Asia achieved collective annual growth of about 5% for many years, making it one of the world's best-performing regions. The region also became an attractive investment destination, with a relatively young population driving demand and providing plenty of labour. These advantages remain in place, but first the region needs to stamp out COVID-19. Nikkei also reported that Southeast Asian economies are aiming to this year regain the growth momentum they had before the COVID-19 pandemic caused historic declines in 2020. A look at early forecasts around the region, however, shows a wide range of scenarios as risk continues to lurk. The agency said that Singapore hopes to achieve its forecast of gross domestic product growth of 4% to 6% for 2021, Indonesia expects GDP to grow by between 4.5% and 5.5% this year, the Philippines projects a growth range of 6.5% to 7.5%, while Thailand has lowered its targets, revising its 2021 forecast down to between 2.5% to 3.5% growth. …

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/ February 25, 2021

Vietnamese prioritise health, finance following pandemic: survey

A year on since the Covid-19 pandemic first began Vietnamese are taking more control of their health and finance, driving greater interest in fitness and well-being along with insurance and retirement planning. — Photo courtesy of Manulife HCM CITY — A year on since the Covid-19 pandemic first began Vietnamese are taking more control of their health and finance, driving greater interest in fitness and well-being along with insurance and retirement planning, as Asia looks to the longer-term impact of the disease, according to new research from Manulife. The latest version of the ‘Manulife Asia Care Survey’ takes a closer look into customers’ concerns, priorities and aspirations, polling 4,000 people across the region who either own insurance or intend to buy it in the next six months, including around 520 in Việt Nam. Nearly all (95 per cent) of those who worry most about Covid have made an effort on a personal level to improve their overall health, mostly through more regular exercise (58 per cent) and improved diet (54 per cent). In Việt Nam, all the respondents said they had taken action to help them manage Covid, with 72 per cent saying this included doing more regular exercise. More people in Hà Nội (85 per cent) do more regular exercise than in HCM City (73 per cent). Almost everyone is self-monitoring health, and Vietnamese pay the most attention to the number of steps walked (44 per cent) among the four emerging markets covered in the survey, against a regional average of 38 per cent. Three out of five (60 per cent) of Vietnamese also own fitness wearables, well above the regional average of 46 per cent. A large majority of Vietnamese (79 per cent) also said retirement planning has become more important since Covid-19 started, below the Philippines (90 per cent), Indonesia (88 per cent) and Malaysia (83 per cent) but higher than all the developed markets. The regional average is 73 per cent. This high level of interest in …

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