VWAS 2023: Swimming in the vortex

Deputy Minister of Planning and Investment Tran Quoc Phuong speaking at the VWAS

The Vietnam Wealth Advisor Summit (VWAS) 2023, the first event for the asset management sector organised by VIR and the Vietnam Wealth Advisor (VWA) community under the auspices of the Ministry of Planning and Investment (MPI) is currently taking place.

At the forum, Deputy Minister of Planning and Investment Tran Quoc Phuong said that the world situation has been fluctuating rapidly and complicatedly since the beginning of the year. Businesses and the economy are said to be "swimming in the vortex." The same goes for Vietnam's financial market, including the corporate bond market, stock market, and real estate market.

"The positive point is that the economic trend is gradually getting better," Phuong said. "Statistics on industrial production, import and export, foreign investment attraction, public investment disbursement are positive. The index of industrial production (IIP) in July 2023 increased by 3.9 per cent on-month and by 3.7 per cent on-year."

In the first seven months, foreign investment mobilisation increased by 4.5 per cent on-year (the first positive growth in the year) to nearly $16.24 billion; total export turnover reached $195.4 billion, down 10.6 per cent on-year, but the trade surplus was over $16.5 billion.

The deputy minister forecast that in the last months of 2023 and in 2024, the economy will continue to face many difficulties caused by both the world and the economy's internal unpredictable fluctuations.

"To maintain and continue growing, the development of the financial, monetary, securities, and corporate bond markets has a critical role, supporting the growth of the business community," Phuong said. "Amid this context, we highly appreciate the VWAS summit, where economists can analyse and provide overview on Vietnam's macroeconomy, especially the financial and monetary market, opportunities and challenges, outlooks, as well as point out solutions not only to develop finance-banking system, securities companies, business community, but also contribute to accelerating the economy's growth."

VIR's editor-in-chief Le Trong Minh

VIR's editor-in-chief Le Trong Minh said that the investment and business environment consists of numerous variables that need to be deciphered. In just one year, the world and domestic economies witnessed a continuous reversal of the flow of information, forecasts, and events.

"Fears of an inflationary storm and the spectre of a recession in major economies are still there, but there are some positive, optimistic flows and the statistical data is not as bad as expected," Minh said.

“This environment is like a vortex that forces investors and businesses to dive in search of opportunities, which are becoming scarce and expensive. Questions such as which asset class should be prioritised, which industry group will prevail, and what the investment trends are emerging will be more difficult to answer amid the emergence of sophisticated, complex and unprecedented problems. In this vortex, professional, talented, and enthusiastic financial advisors will be a useful choice to access modern and potential investment channels with high returns and low risks."

VWAS 2023: Swimming in the vortex

Themed "Swimming in the Vortex," the VWAS 2023 is engaging prestigious domestic and international speakers to discuss the global economy, effective investment strategies in an unpredictable environment, and preferred investment-supporting products and services in the financial, banking, insurance, gold, foreign exchange, and real estate sectors.

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