☀️ Bright Spot #7
Vietnam Rising | Sri Lanka’s Reform | Chinese F&B Comeback | India’s Restructuring Chief | Vietnam Postcard
I didn’t have to scour the news for bright spots this week because they are shining across multiple regions for a change!
Vietnam stands out as it clocked an impressive 8.22% growth in the third quarter despite a 20% US tariff. Index provider FTSE Russell also upgraded the Southeast Asian nation from frontier to emerging market status.
In South Asia, Sri Lanka reached a staff-level agreement with the International Monetary Fund (IMF) that should unlock another USD 347 million in financing. “Sri Lanka’s ambitious reform agenda continues to deliver commendable outcomes,” IMF – which bailed the country out three years ago – said in a statement.
In China, an F&B businessman made a comeback from bankruptcy with the support of his mother. Tang Jian thought of ending his life after his wife divorced him, “but then he thought of his mother, child and creditors” and started afresh by selling roasted sausages, the South China Morning Post reported. Today, the 5 bucks sausage stuffer bought by his mom has multiplied into a factory and branches across the country.
And in the restructuring world, INSOL India elects its first female president to steer the industry association.
🌅 Vietnam Rising
Vietnam’s economy grew 8.22% in the third quarter, accelerating from 7.96% in the previous quarter. FTSE Russell also upgraded Vietnam to emerging market status, which could potentially attract billions of dollars into its stock market.
🪴 Sri Lanka’s Reform
The IMF has reached a staff-level agreement with Sri Lanka to complete the fifth review of its reform program. The country will have access to around USD 347 million once the review is approved by the IMF Executive Board, bringing the unlocked funding to USD 2.04 billion.
🌭 Chinese F&B Comeback
A Chinese businessman went from owning three restaurants to bankruptcy, then made a comeback with a roasted sausage brand. “The thing you keep putting effort into will repay you one day,” he said.
👩⚖️ India’s Restructuring Chief
Pooja Mahajan of Chandhiok & Mahajan, Advocates and Solicitors breaks barriers as she was elected as the first female president of INSOL India. She has extensive experience in corporate restructuring, insolvency proceedings, and investments in distressed assets, according to INSOL India’s statement.
🖼️ Vietnam Postcard
Vietnam’s Phu Quoc island is drawing more tourists from the region with its beauty and growing accessibility.
