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There were some reports of issues with the supply of raw materials in October, leading to higher input prices and longer suppliers' delivery times.  The rate of input cost inflation accelerated to a five-month high, but remained below the series average. In response to a larger rise in input prices, firms increased their output charges for the first time in 11 months. The rate of output price inflation was only marginal, however, as fragile customer demand restricted pricing power.  “The soft patch in the Vietnamese manufacturing sector continued in October, with firms seemingly cautious regarding output, employment and purchasing given signs of weaker new order growth and global demand weakness,” said Andrew Harker, associate director at IHS Markit, which compiles the survey. "It is important to note, however, that the historical relationship between the Vietnam PMI and official data suggests that even a reading around the 50 mark translates into solid … [Read more...] about Vietnam’s manufacturing activity ends 46-month sequence of expansion

The exhibition is organized with the aim of developing trade and economic ties between Russia and Vietnam, expanding the forms and directions of cooperation, as well as promoting the export products of Russian enterprises and organizations to the markets of Southeast Asia. The stand of the Novosibirsk region of the Russian Federation will present products and promising developments of enterprises in the fields of pharmaceuticals, mining and medicine of the following export-oriented companies: Vector-Medica is a manufacturer of antiviral immunobiological drugs based on recombinant interferon alpha-2b. They are used for the treatment of viral hepatitis, treatment of herpes, prevention of infections.  Novosibkholod (TM "POLARIS") is one of the largest and most experienced ice-cream producers in Russia for more than 60 years. Today Polaris products are widely known in Southeast Asia. RIT Automation is a Russian developer and integrator providing high-tech solutions to improve the … [Read more...] about Novosibirsk region present at Russian-Vietnamese industrial exhibition “Expo-Russia Vietnam 2019”

Hanoi is willing to share its agricultural development experiences with Sri Lanka, Chairman of the Hanoi People's Committee Nguyen Duc Chung said at a reception for Sri Lankan Ambassador to Vietnam Sampath Prasanna Walpita Gamage in Hanoi on October 31. Chung affirmed that Hanoi’s enterprises are always willing to transfer technology to Sri Lanka’s in rice cultivation, fresh water aquaculture, among others.   Chairman of the Hanoi People's Committee Nguyen Duc Chung receives Sri Lankan Ambassador to Vietnam Sampath Prasanna Walpita Gamage. Photo: Thuy Linh … [Read more...] about Hanoi willing to share agricultural development experiences with Sri Lanka

The growth quality has been improving, which was reflected through the result of the processes of economic restructuring and transitioning to a new growth model, Dung said at a discussion session at the National Assembly on November 31.  In the first ten months of 2019, the industry and construction sector continued to maintain high growth rates of 8.4%, in which the manufacturing and processing expanded 11% and served as the main driving force for growth, Dung stated, adding the economy has now become less reliant on the mining sector and credit growth.  According to Dung, industry, construction and services sector made up 86% of Vietnam’s GDP.  The contribution of total factor productivity (TFP), which is determined by how efficiently and intensely the inputs are utilized in production, to GDP remained over 40%, higher than previous periods of 33.58% and exceeding the target of 30 – 35%.  Vietnam’s productivity in the 2016 – 2019 … [Read more...] about Vietnam’s growth engines come from both supply and demand sides: Minister

This year, Fitch has affirmed the Vietnam’s sovereign ratings at 'BB'. The revision of the agency’s outlook on Vietnam to Positive in May reflected improving economic management, current account surpluses, falling government debt, high growth and stable inflation. Vietnam's economic expansion has been driven by strong FDI, mostly into the manufacturing sector, and steady export growth. Exports as a share of Vietnamese GDP rose from 2011-2018. Vietnam's current account surpluses have helped build up external buffers and its external liquidity ratio is well above the 'BB' category median, although funding costs will rise over time as Vietnam moves from concessional to market funding. GDP growth remained strong in the first nine months of 2019 at 7.0% year-on-year and a similar annual growth rate in the last quarter would maintain Vietnam as one of the fastest-growing economies in Asia-Pacific and in the 'BB' rating category globally. Vietnam appears to be benefitting from … [Read more...] about Fitch downplays delayed payment of a Vietnamese government-guaranteed loan