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Vietnamese consumers remain cautious amid financial uncertainty – report

The Saigon Times

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HCMC – Local consumers in Vietnam are displaying a heightened sense of caution regarding their financial future, resulting in more prudent choices in saving, spending and investment, according to a recent report by Decision Lab.

Over half of the thousand respondents surveyed in Vietnam said that their biggest concern was saving for unexpected hardships. This figure has increased by 10% compared to 2022 and is 3% higher than in 2021.

The report, conducted throughout April, also said that consumers are increasingly investing in products aimed at protecting their families’ financial well-being.

Around 48% of the respondents considered protecting their families from emergencies to be a top priority given their current financial circumstances. Furthermore, 41% of individuals planned to secure their financial future through investments, a 10% increase compared to 2022.

However, the number of individuals willing to take high or extreme risks for significant capital growth stands at a mere 9%, a 50% decrease compared to 2022.

Around one-third of the respondents identified themselves as low-risk investors, while just over one-fifth were open to taking moderate risks when it came to investing their capital.

Safe-haven investments have seen a surge in popularity, with 62% of respondents having a savings account. Additionally, the proportion of adults surveyed who invested in securities rose from 21% to 33% over the past 12 months.

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