Vietnam's economy likely to rebound in 2H - Foreign company orders also seen to increase

Positive outlook: Tourists ride three-wheel bicycle taxis, known as cyclos, in the old quarter of Hanoi. Foreign tourist arrivals skyrocketed to over 60% of pre-Covid levels in 1Q. — AFP

HO CHI MINH CITY: With the government’s initiatives to address disappointing gross domestic product (GDP) growth in the first quarter (1Q) and foreign companies’ orders likely to increase in the second half of the year, the economy is expected to rebound then, says Michael Kokalari, chief economist at investment fund VinaCapital.

In his latest report, he said GDP growth in Vietnam slowed precipitously in 1Q as consumers in the United States and other developed markets cut purchases.