Most firms in the manufacturing and processing industry were optimistic about their production and business activities for the first quarter of 2019, according to a survey by the General Statistics Office (GSO).
Automobike frame
manufacturing in THACO factory in Chu Lai industrial park, Nui Thanh district,
Quang Nam (Photo: VNA)
More than 47.3 percent of
surveyed firms said that they anticipated better business compared to the last
quarter of 2018, and 37.8 percent expected stable business.
Only 14.9 percent forecast their business and operation would be more difficult.
The inventory of the manufacturing and processing industry sits at 64.4
percent, the lowest rate in the past three years.
Another survey of construction firms showed 59.6 percent predicted improved or
stable business in the first quarter of 2019 while the rest expected more
difficulties.
According to the Vietnam Chamber of Commerce and Industry, Vietnamese firms
were also optimistic about their business prospects in 2019 with 51 percent
saying they had plans to expand.
A recent survey by the Vietnam Supply Chain also found that more than 80
percent of surveyed firms believed 2019 would be a better year than 2018. Only
7.7 percent were worried 2019 would be worse while 9 percent were not sure.
GSO General Director Nguyen Bich Lam said business confidence had improved
significantly thanks to the stable macroeconomic situation and improved
business climate.
The number of new firms also increased for the third consecutive year to set
new records.
More than 131,000 new firms were established in 2018, an increase of 3.5
percent over the record of 127,000 new firms set in 2017.
On average, each new firm had a registered capital of 11.3 billion VND (491,000
USD), up by 10.2 percent over last year.
Firms registered to pump a total of more than 3.88 quadrillion VND into the
economy in 2018.
However, the GSO noted the number of firms temporarily halting operations rose
by a whopping 49.7 percent against 2017. The considerable rise in this number
was partly due to business registration offices nationwide conducting reviews
and eliminating firms which did not report any operations for a long time.
The number of firms which were dissolved in 2018 was more than 16,300; 91
percent of them had registered capital of below 10 billion VND.
Pham Dinh Thuy, Director of the GSO’s Industry Statistics Department, said he
believes the Government’s target of having one million firms by 2020 is within
reach. He said that as of July 1, 2018, there were already 720,000 firms.
Source: VNA
After more than four years of implementing a project launched by the Hoa Binh Party Committee’s Standing Board on developing agriculture and promoting product consumption linked with building new-style rural areas for the 2021-2025 period, the province’s industry and trade sector has made significant strides, greatly contributing to local socio-economic development.
Luong Son district has identified 2025 as the year for the accelerated breakthrough to successfully implement the socio-economic development plan for the 5-year period from 2021 to 2025. The district has been focusing on executing the plans and trying to achieve a GRDP growth rate of approximately 15%.
Since the beginning of this year, under the direction of the Department of Agriculture and Environment, the Sub-Department of Agricultural, Forestry, and Fishery Product Quality Management has strengthened the integration of the professional activities to promote and guide the organizations and individuals in the production and trading of agricultural, forestry, and fishery products to comply with the legal regulations regarding the use of chemicals, pesticides and veterinary medicines in crop cultivation, livestock farming and aquaculture. They also provide guidance to processing and manufacturing establishments on keeping the records to trace the product origins and using food additives from the approved list according to the regulations.
Hoa Binh province saw a significant rise in state budget revenue in the first two months of 2025, heard a meeting chaired by Vice Chairman of the provincial People’s Committee Quach Tat Liem.
Ha Thi Ha Chi, a 26-year-old graduate in law, has taken an unconventional path by returning to her hometown in Mai Chau district to establish the Tong Dau Cooperative, creating stable jobs for local women and bringing Thai ethnic brocade weaving to the global market.
As the Lunar New Year 2025 approached, pork prices surged, creating a profitable season for farmers in Tan Vinh commune, Luong Son district. Taking advantage of the rising demand, Can Minh Son, a farmer from Coi hamlet, sold over 30 pigs at 69,000 VND/kg, each weighing more than 100 kg. After deducting expenses, his family earned a profit of over 50 million VND.
