Topic: industry

Sector’s contribution to city’s GRDP fell from 22 per cent in 2010 to 18.1 per cent in 2022.

Purchasing Managers’ Index hit 50.5 in August, above the no-change point for the first time in six months and demonstrating improved business conditions in the manufacturing sector.

Latest production technology on display from June 28.

The Prine Minister has approved a master plan on restructuring the industry and trade sector.

Growth of Vietnam’s industrial production value expected to come in at 11-12.5 per cent a year.

According to the General Statistics Office, the Index of Industrial Production (IIP) in October increased 3 per cent over the previous month and 6.3 per cent over October last year. Processing and manufacturing rose 5.7 per cent, mining 6.3 per cent, and electricity production and distribution 10.5 per cent. The IIP for the first ten months is estimated to have increased 9 per cent year-on-year.

Vietnam’s aviation transport market has entered the low season and passenger numbers have fallen for two months in succession.

Though digital transformation has helped wood businesses cut costs by 10 per cent and increase revenue by 10-20 per cent and workplace productivity by more than 20 per cent, the proportion applying digital transformation in production remains low. The Vietnam Internet Association (VIA) puts the rate at just 20 per cent. Three reasons for this are large initial cost, a lack of technological capacity and human resources, and a shortage of professional partners with good consulting capacity and solutions.

Many foreign enterprises have recently expressed an interest in investing in Vietnam’s semiconductor industry. Analysts believe the country has an opportunity to become a prominent semiconductor manufacturing center in the region, and it needs to develop medium and long-term strategies to promote the industry.

At a CEO Forum on welcoming the wave of supply chain shifts in the electronics industry, held on October 4, analysts said Vietnam is a destination for many companies producing electrical and electronic products. Its electronics industry is one of the most promising in terms of receiving a new wave of relocated investment.