The Asset Events+ webinar series
Fitch on Vietnam: Pandemic, the economy and credit markets
15 April 2021 | 10:00 – 11:35 AM HKT
Exclusive Sponsor

Covid-19 brought out weaknesses and strengths in every economy. Vietnam wasn’t spared. Yet because of the government’s effective containment strategy, the economy bounced back swiftly minimizing the economic and health impact that continues to be a drag elsewhere in the region. Amazingly, Vietnam’s GDP grew 2.91% in 2020 – one of only a handful of countries in the world that did grow – and this year, it is likely to surge to 6.5% to 7% owing to the return of domestic consumption and manufacturing activity.

Foreign direct investment (FDI) topped US$17 billion in 2020 bringing the total accumulated stock value to US$382 billion across 32,915 projects. Investors are mostly from the region targeting manufacturing, processing, real estate, and electricity production and distribution. Multinational companies continue to pour investments into the country given its strong investment climate and as some move to diversify production across the region. In addition, Vietnam’s participation to Free Trade agreements (FTAs) gives it an advantage in attracting FDI.

Vietnam’s successful response to Covid-19, which is widely acknowledged, is also boosting activity among foreign investors in the equity market. The number of newly opened retail trading accounts has more than doubled in 2020. Meanwhile, the country’s industrial real estate market remains the hottest segment and likely to remain the case in 2021 amid strong demand that is driving industrial land rental rates higher.

With a rosy outlook for 2021 comes perils. Tariffs, non-performing loans (NPL), and tourism inactivity (being a major contributor to Vietnam’s economy) are a matter of concern. How will Vietnam overcome the risks? Capturing a rare golden opportunity from the pandemic, how will the country perform in 2021?

Organized in association with Fitch Ratings, The Asset Events+ is pleased to be hosting a two-part webinar series entitled Fitch on Vietnam.

 
 
Agenda
15 April 2021 | 10:00 - 11:35 am HKT
09:45 (HKT)
Access to webinar opens
10:00 (HKT)
Session 1: Resiliency amid pandemic
Growth is expected to accelerate in 2021 and Vietnam is leading this recovery ahead of comparable economies. Supported by accelerated public investments, increased trade with the Europeans, and the reconfiguration of global supply chains to Vietnam, the economy’s outlook over the medium and long term looks promising.
  • What is behind Vietnam’s success in managing the pandemic risks, and will it create new economic opportunities for Vietnam?
  • Will the policies of the new Biden administration affect Vietnam’s economic prospects?
  • Can Vietnam balance systemic banking risks against pandemic relief policies, such as relaxed loan classification rules?
  • Has Vietnam sustained the progress in its macroeconomic framework and addressing its old structural bugbears?
Dr Le Anh Tuan
Le Anh Tuan
deputy CIO
Dragon Capital
Sagarika Chandra
Sagarika Chandra
director, Asia-Pacific sovereign ratings
Fitch Ratings
Tania Gold
Tania Gold
senior director, head of South and Southeast Asian banks
Fitch Ratings
Vu Minh Khuong
Vu Minh Khuong
associate professor, LKY School of Public Policy
National University of Singapore
Daniel Yu
Daniel Yu (moderator)
editor-in-chief
The Asset
10:35 (HKT)
Q&A
10:45 (HKT)
End of discussion
 
Break
10:50 (HKT)
Session 2: Credit and capital markets
Capital markets have become an increasingly important channel for enterprises to raise capital and reduce pressure on banking credit. The pandemic has emphasized the importance of such funding in meeting the requirements of the country, and fueling the recovery in the public and private sectors.
  • What are the credit trends you see in public sector, as well as from private sector - including corporate and infrastructure sectors?
  • Drawing on lessons from the pandemic, what types of new funding opportunities and challenges await issuers, investors and other market participants?
  • How do you see prospects and issuance pipeline for USD/ Offshore bonds for Vietnamese issuers?
  • What is the future of a green bond market in Vietnam?
  • How important is it for entities accessing offshore funding markets to consider getting an international credit rating?
Muralidharan Ramakrishnan
Muralidharan Ramakrishnan
senior director, head of South & South-East Asia energy and utilities
Fitch Ratings
Hasira De Silva
Hasira De Silva
senior director, South & South-East Asia industrials, property & consumer
Fitch Ratings
Sajal Kishore
Sajal Kishore
senior director, head of Asia-Pacific infrastructure and project finance ratings
Fitch Ratings
Allan Redimerio
Allan Redimerio
managing director
Mizuho Bank
Le Thieu
Le Thieu
CEO
UOB Asset Management (Vietnam)
Daniel Yu
Daniel Yu (moderator)
editor-in-chief
The Asset
11:25 (HKT)
Q&A
11:35 (HKT)
End of discussion

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