FiinGroup’s chairman shared views on Vietnam’s Economic Outlook for 2024 at VNIDA Summit 2023

21 November 2023 - 11:27 AM Alternate Text


On November 17th 2023, Mr. Nguyen Quang Thuan (Chairman of FiinGroup) delivered a keynote presentation at the 2023 Vietnam Directors Summit organized by the Vietnam Independent Directors Association (“VNIDA”). This is the largest annual event for Corporate Board Directors, C-suite executives, and Top Management in Vietnam, designed to foster connections, drive transformation, and inspire excellence.

In the keynote presentation titled "Navigating Drivers and Risks for Vietnam’s Economic Outlook for 2024", FiinGroup’s chairman gave some in-depth assessments and analysis from the perspectives of a financial data analytics and credit ratings service provider in Vietnam.

Below are some highlights taken from the keynote presentation:

  • The macroeconomy in 2024 is expected to remain basically stable, with some uncertainties about global geopolitics and the negative impact of the real estate sector on the banking system.
  • Exchange rates are expected to remain stable thanks to the continuing improvement in the balance of payments.
  • Vietnam currently has room to loosen fiscal and monetary policy in a selective manner. Specifically, credit growth is based on risk levels and prospects in many industries serving exports and domestic consumption demand.
  • The high interest rate environment in international markets is expected to continue in 2024 and continue to have a certain impact on export demand and the recovery of FDI flows into Vietnam.
  • The significant risk to the Vietnamese economy and the financial sector is probably the outlook for the real estate market and the spillover from corporate bond defaults to financial markets. The factor to watch is when developers lower real estate prices and project licensing solutions are implemented on a large scale.
  • The momentum for medium- to long-term development is still maintained by major export markets with a low probability of recession, and basic macro balances continue to be ensured.

Download presentation deck HERE

About FiinGroup

Established in 2008, FiinGroup is a leading integrated service provider of financial data, business information, industry research, credit rating service, and other data-driven analytics services for the Vietnam market. We are serving more than 1,000 local and foreign financial institutions and corporations through our fintech platform as a service (PaaS), annual packages and on-call services.

FiinRatings Joint Stock Company (“FiinRatings”), a member of FiinGroup and a technical collaboration partner with S&P Global Ratings, is a local licensed Credit Rating Agency in Vietnam. FiinRatings provides credit ratings and related services to issuers, creditors and investors in Vietnam credit market. FiinRatings has developed and standardized credit rating models for more than 50 industries and sub-sectors of Vietnamese enterprises.