This is seen as a positive sign for the economy amid the current serious Covid-19 situation that is having negative impacts on enterprises’ operation.

A recovery in consumer spending in Vietnam this year is in line with Fitch Solutions’ forecast that the country’s economy will grow by a real rate of 8.6% year-on-year over 2021 from 2.91% in the previous year.

Vietnam's effective containment of Covid-19 is seen as a major factor to boost retail sales during final months of the year.

The rate is even higher than the 7.1% year-on-year growth from a pre-Covid-19 environment in 2019.

The growing trend of FDI to Hanoi showed result of the city authorities’ efforts to reform administrative procedures and ensure a favorable investment environment.

Vietnam’s modern grocery retail and pharmacy sector will benefit specifically from the country’s consumer spending growth story.