A report from the General Statistics Office (GSO) on business trends at enterprises in the processing and manufacturing industry in the third quarter of 2022 reveals they are more confident about production and business in the fourth quarter.

Businesses expect better performance in the fourth quarter than in the third. Some 48.7 per cent of respondents have a positive outlook, while 33.9 per cent believe the situation will be stable and only 17.4 per cent forecast greater difficulties.

Non-State enterprises are the most optimistic, with 83.6 per cent of respondent forecasting improved production and business in the fourth quarter compared to the third. Rates among foreign-invested enterprises and State-owned enterprises are 80.9 per cent and 79.1 per cent, respectively.

Mr. Le Trung Hieu, Deputy General Director of the GSO, said the reason why businesses believe business will be better in the fourth quarter is that Vietnam’s economic recovery is becoming clearer, especially in processing and manufacturing, construction, and services.

However, 48.1 per cent of enterprises are concerned about a decline in demand in the domestic market, while 30.8 per cent face financial difficulties, 26.7 per cent have seen a fall in demand in the international market, 26.1 per cent lack raw materials and fuel, 25.1 per cent cannot recruit necessary workers, and 23.5 per cent are experiencing difficulties from higher lending interest rates.

“This requires ministries, agencies, and localities to adopt appropriate solutions to help businesses overcome the difficulties and gradually recover and develop effectively,” Mr. Hieu said.