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A reading below the 50 neutral mark indicates no change from the previous month, while a reading below 50 indicates contractions and above 50 points to an expansion. As a result, business conditions in the Vietnamese manufacturing sector were unchanged in October as new order growth slowed and back-to-back declines in output were seen for the first time since the third quarter of 2013. Employment also decreased during the month. On the price front, the rate of input cost inflation accelerated and firms raised their charges for the first time in almost a year in response. Weakness in October was mainly centered on intermediate goods firms. While new order volumes continued to rise, the rate of growth was only marginal, having slowed for the third month in a row to the weakest in the current sequence of expansion which began in December 2015. Some panelists indicated that customers had looked to reduce the size of their orders.  A similar pattern was seen with regards to new … [Read more...] about Vietnam’s manufacturing activity ends 46-month sequence of expansion

The Third International Russian-Vietnamese industrial exhibition "Expo-Russia Vietnam 2019" will be held from 14 to 16 November 2019 at the NATIONAL EXHIBITION CONSTRUCTION CENTER (NECC), Hanoi, Vietnam. Expo-Russia Vietnam 2019 to take place in National Exhibition Construction Center (NECC) in Hanoi, Vietnam. Photo: AVS … [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