Key View

• A new law on Public-Private Partnerships (PPP)s passed by the Vietnamese National Assembly will facilitate future development of the country’s infrastructure sector.
• PPP projects implemented in the Vietnamese roads sector serve as a litmus test to assess the effectiveness of the new PPP law.

A new law on Public-Private

Key View

• While a relatively new paradigm in Vietnam, we expect network sharing efforts to accelerate as the government seeks to streamline network deployments and slash capital spending.
• The deal will be a boost for stated-owned GMobile, the smallest player in Vietnam, but sidelines privately-owned Vietnamobile.
• There is still little space

Key View

• We at Fitch Solutions are revising our forecast for Vietnam’s fiscal deficit (excluding debt repayment) to come in at 6.4% of GDP in 2020, from 6.0% previously.
• The government’s Covid-19 relief measures, which focus heavily on tax reduction and waivers versus spending, inform our view for a revenue contraction to be the main driver

Key View

• Early detection, quick strategic testing and active treatment were important actions in slowing the spread of Covid-19 in Vietnam.
• While the share of citizens with health insurance is increasing, public healthcare remains chronically underfunded.
• Vietnam's goal of having the majority of its pharmaceutical demand be met by local

Key View

• Over the medium-term forecast period (2020-2024), consumer spending growth on fish and seafood will outperform all other food segments in Vietnam, with an annual average increase of 12.5% projected.
• Per capita spend on fish and seafood by Vietnamese consumers is predicted to reach USD48.8 in 2024, from an estimated USD33.4 in 2020

Key View

• The State Bank of Vietnam cut its benchmark interest rates on May 12, taking the refinancing rate to 4.5% from 5.0%, the discount rate to 3.0% from 3.5%, and the overnight inter-bank lending rate to 5.5% from 6.0%.
• Given a weak economic outlook, we expect further easing measures from the SBV as the country is still targeting real GDP

Key View

• We hold a favourable view on the outlook for the Vietnamese buildings sector, with growth of the sector expected to average 7.2% per year from 2021 to 2029. Our view is underpinned by both robust macroeconomic and demographic trends.
• Foreign direct investments will remain a key driver of growth for the industrial sector, as Vietnam

Key View

• Vietnam’s decision to grant FiT contracts for solar projects that can achieve commercial operations by December 31, 2020 will do little to attract further investment, as projects will struggle to meet the deadline. As a result, we expect Vietnam’s robust renewables growth will be driven by investments outside of this initial FiT

Key View

• At Fitch Solutions, we believe that Vietnam will not come under the US’ punitive trade tariffs, especially over the near term.
• This will be due to the ongoing Covid-19 outbreak globally, which would likely see the US turn its focus away from addressing trade imbalances.
• Moreover, Vietnam’s proactive approach to try and narrow its

Key View:

• Vietnam’s grocery and pharmacy sectors will be growth outperformers in the short and medium term, with consumer spending on food and drink, health and personal care driving this trend.
• In the short term (2020), we expect a temporary boost to the grocery and pharmacy sector as a result of the coronavirus (Covid-19), as consumers