Vietnam’s economy will grow by 6.5% or more in 2017, but GDP growth would be higher were it not for a decline in oil production, which contributes about 5% of GDP. We expect Vietnam’s oil production will beat forecasts in 2018 on the back of an expected rise in oil prices, boosting not just GDP but also possibly the stock market, as the oil and gas sector’s earnings could be lifted by 15%.
VinaCapital’s twelfth annual investor conference, held at the Park Hyatt Saigon from 11-13 October 2017, featured a wide range of speakers, from both established listed companies and startups alike, as well as experts on private equity, real estate, and banking. Additionally, VinaCapital’s fund managers provided updates on their performance over the past year, as well as their views on the opportunities – and their strategies for capitalizing on them – over the next 12 months.
VinaCapital, one of Vietnam’s leading asset management and real estate development companies, kicked off its 12th annual Investor Conference today at the Park Hyatt Saigon. As Vietnam’s economy continues to flourish and the stock market continues to be the best performer in the region, more international investors have turned their attention to the country.
The dramatic acceleration in Vietnam’s GDP growth from Q1 and Q2 (when the economy grew at a 5.1% and 6.3% annual pace, respectively) to a searing 7.5% estimated rate of growth in Q3 prompted analysts to revise up their full-year forecasts for Vietnam’s 2017 GDP growth.
When the State Bank of Vietnam cut policy rates in July, the move seemed out of sync with the rest of the world’s central banks. It now looks prescient, given the recent loosening monetary bias by Asian central banks. Are more rate cuts in the cards? And will they actually spur GDP growth? VinaCapital’s Chief Economist Mike Kokalari provides his view on where rates are headed.