The feeling before the coming of Tet and the Spring is always strange. On one hand, we look forward to the new year, waiting and hoping. On the other hand, we look back at the old year and ask the familiar question in these transitional moments: What have we done and achieved in the past year?
The year 2023 passed with mixed emotions. Like the representative zodiac animal, Quy Mao, there were times of success and tranquility, like a cat. Despite not achieving the set goals, Vietnam’s economic growth last year still belonged to the group of economies with the highest growth rate in the region and the world. Looking at the stock market, VN-Index ended the year in green, stopping at nearly 1,130 points, an increase of more than 122 points compared to the end of 2022. Along with that, there were positive developments, important policies passed, such as the 8th power planning, decree amending bond market difficulties… The trace of the COVID-19 pandemic also faded, becoming a new normal with less impact, even insignificant.
However, inside this cat, there is still the instinct of a predatory animal, fierce and sometimes violent. The Russia-Ukraine war still persisted, the Israel-Hamas conflict had some impact on oil prices and contributed to the global economic downturn. Big cases like Van Thinh Phat, renewable energy planning violations… revealed themselves and dealt a heavy blow to the market, punishing investors with shocking declines. Declining purchasing power, exchange rate pressure… have hurt many businesses in various industries.
Nevertheless, Quy Mao still showed the common lovable traits of a small cat. Global inflation gradually cooled down, and the Fed signaled a pause in interest rate hikes. Many businesses and investors in the past year were still able to turn risks into opportunities, seize the moment, and reap the rewards.
In the new year of Giap Thin, the Vietnamese economy is expected to receive positive forecasts, with interest rates maintained at a stable level, and the actual inflation rate lower than the government target; exports are predicted to increase strongly; the stock market is heading towards an explosive year, especially with the KRX system coming into operation… And there are many other factors to look forward to.
Giap Thin carries the symbol of a brave dragon, representing nobility, everlasting vitality, and cosmic power. The word “Giap” is the first in the Heavenly Stem, understood as a sturdy tree, with strong characteristics, rich vital energy. But let me borrow the trendy expression of young people nowadays and use the image of a “dragon wearing armor” for Giap Thin. We look towards Giap Thin like dragons fully equipped, always ready to resist any big or small impact, so that when needed, we can “stop the wind and break the waves,” soaring up to the sky.
In the Spring of Giap Thin 2024, the Vietstock editorial team would like to send the best wishes to our dear readers, customers, partners, and investors, for a safe and prosperous new year. Vietstock is committed to always accompany you, overcome challenges, and look forward to the good things ahead.
