German media laud Vietnam’s pandemic efforts and stock market potential

Illustrative image (Photo: VNA)

German financial newspaper Finanznachrichten ran an article on May 19 covering the upcoming election of deputies to the 15th National Assembly and People’s Councils at all levels for the 2021-2026 tenure as well as the COVID-19 situation in Vietnam, expressing a belief that the country is controlling its latest outbreak.

The article quoted Director of the Germany Trade and Invest Office in Ha Noi Frauke Schmitz-Bauerdick as saying that observers believe Vietnam is doing a good job in curbing the new outbreak and can continue with its economic strategies.

Despite COVID-19, she said, Vietnam was one of only a few nations to post growth last year, of 2.9 percent. The Asian Development Bank has forecast that growth may reach 6.7 percent this year and 7 percent next year.

Public investment, especially in infrastructure, as well as personal consumption by the country’s growing middle-class and strong exports will propel growth this year.

As of late April, she added, newly-registered investment capital stood at 8.5 billion USD, up 24.7 percent year-on-year.

Meanwhile, the Handelsblatt newspaper spoke highly of the potential of Vietnam’s stock market due to the high earnings on offer, especially in stocks and bonds.

It named several funds possessing a high ratio of Vietnamese bonds, such as Magna New Frontiers, MSCI Frontier Markets, the Xtrackers S&P Select Frontier Swap ETF, Global Investment Funds - Frontier Markets, and Frontier Markets Funds.

VNA