Analysts say that market uncertainties will continue into next year, so businesses need to improve their adaptability. A glimpse of the landscape In mid-November, the Business Management Group held a seminar titled “Identifying Trends and Forces Shaping the 2024 Market,” offering early insights into the economic and market conditions anticipated for next year. The event brought together a diverse range of speakers, including economic and financial experts, business consultants, trade promotion organizations, market research firms, trade associations, and e-commerce entities. In their analyses, these experts painted a less-than-optimistic picture of the economic outlook for the year ahead. Bui Duy Khanh, foreign exchange director of HSBC Bank Vietnam, said the bank’s cautious optimism, projecting an economic growth rate of around 5% for the current year. Despite recent efforts to control inflation, Vietnam’s economy and businesses are grappling with inflationary pressures. Rising input costs and potential factors contributing to food and oil price instability are putting an additional strain on the situation. While there have been some bright spots in domestic consumption and foreign investment in manufacturing, Khanh emphasized that the overall macroeconomic landscape in Vietnam remains overshadowed by challenges related to exchange rates, inflation, and long-term factors affecting import-export dynamics. These […]
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