Vietnam’s economy recovers faster than expected: Singapore news

Photo for illustration (Source: VOV)

The article said Maybank’s economists attributed these “V” recoveries to generous government subsidies, low interest rates, high household savings rate, and work-from-home policies.

Maybank emphasized that Vietnam is a rare economy in ASEAN that escaped recession because the country’s manufacturing purchasing managers’ index has risen significantly, quicker and stronger than its ASEAN neighbors.

Exports and retail sales saw a brief contraction, and have since normalized. The strong pick-up in domestic business and transport activities resulted in a “V” recovery in freight transport, said PropertyGuru.

Meanwhile, factors supporting the faster-than-expected recovery of Singapore’s economy are real estate transactions, strong growth in manufacturing and exports of semiconductors./.


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