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
Maximizing local potential and advantages, Yen Tri commune in Yen Thuy district is actively promoting the cultivation of medicinal herbs and turning medicinal herbs into One Commune - One Product (OCOP) products.
Situated at the gateway to the Northwest, Hoa Binh province has a population of over 900,000, including about 540,000 of working age. It is home to 6,000 businesses and production facilities, providing employment for over 100,000 workers. The remaining workforce is engaged in informal jobs, works in enterprises outside the province, or contributes to agro-forestry-fisheries. Additionally, around 3,000 workers are employed abroad.
The Hoa Binh provincial People's Committee has issued Decision No. 2767/QD-UBND announcing the rankings of departments, agencies, districts and Hoa Binh city in the Public Administration Reform Index (PAR) and the Satisfaction Index of Public Administration Services (SIPAS) in 2024.
The cultivation of Dam Xanh fish (Bangana lemassoni), a unique fish species, has seen remarkable growth in Mai Chau district, thanks to its high economic value and effectiveness. Initially concentrated in Van Mai commune, farming has now extended to four other communes, namely Mai Hich, Mai Ha, Chieng Chau, and Son Thuy. These areas benefit from pristine underground water flowing from mountain crevices, providing ideal conditions for raising this specialty fish.
In 2024, the total state budget revenue of Hoa Binh Province is estimated at approximately VND 6,930 billion, achieving 183% of the Government’s target, 126% of the target assigned by the Provincial People's Council, and 145% compared to the same period last year.
In 2024, Hoa Binh province has shown signs of improvement in attracting investment and developing enterprises.
