In HSBC’s view, the circular economy is an alternative economic model tothe linear model which constists of - manufacture, use and dispose. It promotes sustainable development by designing products, systemsand processes that focus on recycling and reuse.

Singapore has the world’s best digital environment and support system for entrepreneurs, according to the Global Index of Digital Entrepreneurship Systems, released today as part of the Asian Development Outlook (ADO) 2022 Update.

The Asian Development Outlook (ADO) Update 2022 says Viet Nam’s economy is performing reasonably well amid uncertainties in the global economy.

Vietnam is also the only Asia-Pacific (Apac) economy to experience a significant upward revision to GDP (gross domestic product) growth forecasts by Moody’s Analytics, with the research house now projecting its 2022 GDP growth to hit 8.5 per cent – the highest among its peers.

Although growth in both export and import moderated, the trade balance remained flat in July. As HSBC has flagged previously, Vietnam is likely to run the second consecutive year of current account deficit, posing downside pressure on VND.

Given the nascent domestic recovery, the weakening global demand outlook, and heightened inflation risks, the report suggests a proactive response by the authorities.

Standard Chartered economists expect the State Bank of Vietnam (SBV) to keep the policy rate on hold at 4.0% in 2022 to support economic growth and businesses, despite rising inflation.

Gojek, Southeast Asia’s leading mobile on-demand platform, has deployed outdoor “talking billboards” in Hanoi and Ho Chi Minh City (HCMC), making it the first brand in Vietnam to utilize this new form of outdoor advertising.

HSBC expects Vietnam’s economy to grow 6.9% in 2022, likely topping the region. That said, HSBC trims 2023 growth forecast to 6.3%, taking account of mounting downside risks, particularly from the energy side.

Nearly 80 delegates from state agencies, research institutes and companies attended the seminar and participated actively in the discussion on the draft framework of the National Action Plan on CE for Vietnam.