Vietnam in Focus: Faltering economic growth from weak external demand amid domestic financial risk

TRIS Rating forecasts Vietnam’s GDP to grow by 5.7% in 2024, still lower than pre-COVID-19 growth, following global economic slowdown.

PROPERTY INDUSTRY - HOMEBUILDERS AND REAL ESTATE DEVELOPERS

TRIS Rating expects the housing demand to either stabilize or experience a slight growth this year. This trend will be driven primarily by an increase in demand for condominiums, which is expected to be partially offset by a decline in demand for landed properties.

NBFI : 2024 OUTLOOK

In 2023, non-bank financial institutions (NBFIs) faced several challenges, which are expected to persist in 2024. Factors such as increased credit and funding costs led to lower profitability.