News & Insights - FiinGate Website

THE IMPACT OF TYPHOON YAGI ON VIETNAM'S ECONOMY

September 2024 saw severe impacts from Typhoon Yagi, which caused significant damage to northern provinces of Vietnam, particularly Hai Phong and Quang Ninh. The typhoon resulted in flooding and destruction of infrastructure, affecting the economic activities in these areas.

According to FiinGroup's data, the affected provinces contribute approximately 25.81% of the national GDP and host 111 industrial parks along with 4,760 foreign direct investment (FDI) enterprises operating in key sectors such as information technology, manufacturing, construction, and tourism. The estimated damage caused by the typhoon exceeds VND 40 trillion, with long-lasting effects on various industries.

Key takeaways :

Economic Damage: Typhoon Yagi caused severe damage to 26 provinces and cities in northern Vietnam, including key economic zones like Hai Phong, Quang Ninh, and Hanoi. These areas host significant industries, contributing 25.81% of GDP and 17.27% of Vietnam's export value.
Sector-Specific Impact: The typhoon disrupted logistics, manufacturing, agriculture, trade, and tourism. It also led to a 0.15% reduction in GDP growth for 2024, with major sectors like agriculture, industry, and services seeing declines.

Banking Sector: Typhoon Yagi worsened debt repayment issues, with VND 100 trillion in outstanding loans impacted. Banks responded by lowering interest rates and extending repayment terms.
Insurance Industry: Significant property and life insurance claims are expected, with substantial risk to non-life insurance due to the growing frequency of natural disasters.

Recovery and Opportunities: Certain sectors like construction materials, retail, and logistics may benefit from increased demand due to recovery efforts, while government support programs will be crucial in stabilizing the economy.
Government Response: Swift actions were taken to address the aftermath, including a resolution focusing on supporting economic recovery and stabilizing citizens' lives. Despite the challenges, Vietnam's resilience and policy measures are expected to minimize long-term damage.

For the full report, kindly access HERE.

This document is prepared by FiinGroup Joint Stock Company for reference purposes only. This document does not make recommendations to buy, sell or hold any particular stock or transaction.

About FiinGroup   

FiinGroup is Vietnam’s leading provider of financial data analytics platforms, business information, market research and consulting, credit ratings, and other data-driven analytics services via Platform as a Service (PaaS), annual package, and on-call services.   

To assist potential investors in unlocking the potential of Vietnam's Water Supply sector, FiinGroup has successfully supported various local and foreign investors via market assessment, market entry advisory, commercial due diligence, merger filing support and deal advisory to penetrate/ expand their businesses.

For more information about FiinGroup’s support and other investor services and how we can support, please call (84-24) 3562 6962 or email to info@fiingroup.vn

02-Oct-2024

News

Business Insight #3: Vietnam's Forestry Sector at a Crossroads After Boom Years

The Vietnamese forestry sector showed robust growth from 2019 to 2022, but it now faces challenges such as slowing exports, financial difficulties, shifting overseas demand, and meeting legality standards, all of which are key hurdles as global economic volatility persists in 2023. Financial difficulties and stricter legal requirements in key markets present additional challenges. However, with coordinated efforts between the government and industry, the sector can overcome short-term struggles to regain competitiveness.

We respectfully introduce a special report synthesizing information about Vietnam's Forestry Sector. Kindly refer to our full report HERE

Contact us
Tel: (84-24) 3562 6962
Email:‎ support.fiingate@fiingroup.vn

21-Nov-2023

News

FiinGate Platform : A solution for Mitigating Financial Risks and doing business in Vietnam with confidence

In today's volatile market, businesses grapple with unprecedented challenges in maintaining their operations while minimizing business and financial risks. With persistent market disruptions, the demand for proactive measures has never been greater, and information stands as the ultimate key.

Our upcoming webinar will focus on the current state and risks for a key sector in Vietnam with the support of FiinGate - Vietnam's most comprehensive business information platform. We'll take a deep dive into how FiinGate effectively addresses the challenges presented by the current economic instability in a key industry in Vietnam.. Don't miss this opportunity to explore FiinGate's powerful risk mitigation capabilities with us.

Date & Time: 2:00 PM – 3:30 PM (Vietnam Time), Thursday, 2^nd November 2023

Language: English

Venue: Zoom Webinar (require registration)

MAIN TOPICS OF DISCUSSION

Introducing FiinGate - Vietnam's leading Business Information platform.
Showcasing FiinGate platform

Discussing the current state and risks for a key sector in Vietnam.
Showcasing how FiinGate helps to mitigate risks within the industry.

Panel Discussion

Mitigating foreign partner risk for Vietnamese entities.
Creating a screening list for the top companies in the industry.
Performing KYB (Know Your Business) verification for a company in the sector to determine its viability as a potential partner.
Assessing the risks and potential of the sector.
Creating and gaining insights into a supplier portfolio.
Comparing afirm with its peers.
Addressing a good/risky business.

Q&A Session

Speakers:

Nguyen Quang Thuan, FCCA – Chairman FiinGroup and FiinRatings
Pham Hong Hoang – Data Analytics Manager, FiinGroup
Nguyen Quoc Ha – Moderator - Business Development Manager, FiinGroup

Remember to submit your questions in advance on the registration page HERE. We will do our best to answer as many as possible.

We hope you can join us live, however, if you are unable to participate, you can still register to access the replay on-demand at your convenience.

This Webinar is provided on a complimentary basis but registration in advance is required.

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. FiinGroup entered a strategic capital and business alliance with NIKKEI Inc. and QUICK Corp. (Japan) in September 2014. 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.

19-Oct-2023

News