Gemadept : in collaboration with HSBC held internal seminar on Vietnam’s economic prospects in 2016

On 18 March 2016, Gemadept Corporation in collaboration with HSBC organized an internal seminar at Gemadept's Head-office with the topics 'Expanding international trade opportunities amid economic turbulence' and 'Life in the fast lane - Vietnam's economic prospects in 2016 and beyond'.

The seminar was attended by Management of both HSBC and Gemadept as well as Gemadept's key staffs to exchange information and update on latest trends of the market and the economy.

At the conference, experts from HSBC - Mr. Douglas Lippoldt, senior trade economist and Ms. Izumi Devalier, Asia economist covering Japan and Vietnam - had presentations on the aforementioned topics.

According to HSBC, Vietnam will be among the biggest beneficiaries of GDP growth from TPP. Vietnam may increase by 10.5% compared to not joining TPP. The requirements and high standards that TPP poses will assist Vietnam in the process of internal reform, improving business environment, strengthening confidence and attracting more foreign investment.

HSBC remarked that although the global context remains in difficulty, confidence in Vietnam market is being restored. Export has been rising and is expected to exceed 10% growth per annum over the period of 2016-2030.
With Vietnam's ideal geographic location - being located next to the fast-growing countries such as India, China and ASEAN countries and having good relations with Western markets, HSBC believes that the country's joining into TPP, RCEP, AEC and the FTA with the EU will further promote Vietnam's trading activities.

However, the experts warned that though Vietnam's inflation has softened, the stable condition will not last forever; the twin deficits will return in 2016. Therefore, Vietnam should soon have tightening measures to keep the deficit at a controllable level, improve labor productivity, take advantage of capital resources, cheap labor and natural resources more efficiently.

After the presentations, the two companies' leaders and experts exchanged points of view on opportunities and challenges to Vietnam in general and Gemadept in particular so that the company will have good preparation for deeper integration in the coming time. The seminar also paved the way for more cooperation opportunities between HSBC and Gemadept in the company's future projects.
As one of the leading enterprises in Port operation and Logistics of Vietnam, with close connection to export activities and international trade, Gemadept pays much attention to the research and assessment of market trends through its internal studies and exchange of opinions with experts as well as reputable economic organizations. Basing on which, GMD sets up flexible and appropriate policies and strategies in line with each stage of the economy to achieve the goal of strong and sustainable growth.