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.
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.
S&P Global on October 3 released its Purchasing Managers’ Index (PMI) report for Vietnam’s manufacturing industry in September, which reached 52.5 points. There were three highlights: output continued to increase sharply; inflationary pressure eased; and inventories of purchased and finished goods rose. The report shows that Vietnam’s manufacturing industry continued to maintain its growth momentum at the end of the third quarter. New orders are increasing, supporting output, employment, and purchasing activity.
Dr. Kåre Helge Karstensen, Chief Scientist at the Foundation for Scientific and Industrial Research (SINTEF) in Norway, shares his views on how the cement industry can be involved in and increase the treatment capacity for non-recyclable plastic waste, thereby contributing to reducing the release of plastics into the seas.
Vietnam’s textile and garment industry has grown rapidly, with exports rising from $1.96 billion in 2001 to $27 billion in 2015 and $40.4 billion in 2021. Despite making a major contribution to the economy, the industry is among the most polluting. Promoting a circular economy is therefore considered a key strategy for the industry to deeply participate in global value chains.