Key View

• We expect robust growth in Vietnam’s energy and utilities sector as rapid urbanisation and industralisation across the country drives demand for electricity and water.
• Power infrastructure will be the key driver of energy and utilities construction, with most of the capacity growth from thermal facilities.
• While power plants and

Key View

• Vietnam's infrastructure sector offers one of the most competitive and diverse markets for private businesses, with a good mix of domestic and foreign companies as contractors in ongoing projects.
• The enactment of the Public-Private Partnership Law and other supportive policies to foster greater private infrastructure investments

Key View

• The Vietnamese economy had been a strong beneficiary of manufacturing relocation investment flows from China and also the region, with positive economic fundamentals and a continued improvement in external market access positioning it as the country with the brightest outlook in the Asia region.
• However, we believe that the country

Key View

• The average Vietnamese household will spend 20.8% of their total household budget on food in 2025, marginally increasing from 20.1% in 2005.
• Vietnamese households have seen significant growth in their disposable incomes. This has fed through to their food spending patterns, allowing them to diversify their palate and purchase food

Key View

• Vietnam approved its 2021-2025 five-year plan in February 2021.
• In our view at Fitch Solutions, the plan laid out showed a continuation of the current economic development model, with no major change to the existing economic strategy.
• Key goals include continued strong economic growth, driven by manufacturing, and supported by a

Key View

• We at Fitch Solutions forecast Vietnam's personal effects market to recover in 2021, with spending projected to grow by an average of 11.3% y-o-y over the medium term (2021-2025), from an estimated contraction of 0.2% in 2020.
• This double-digit yearly growth is driven by the rising middle- and upper-class, and a still-growing

Key View

• The ongoing community transmission outbreak has sped up the vaccine timeline for Vietnam.
• The Vietnamese government's support for the local pharmaceutical industry will remain steadfast.
• A shift from pharmaceutical production to a more research-based industry is likely.

The ongoing community transmission outbreak has sped up