Nearly 90 percent of manufacturing-processing firms see growth in Q3
Updated : Tuesday, July 10, 2018 9:38 AM (GMT+0700)

Some89.6 percent of enterprises in the manufacturing-processing industry expectexpanded or stable production in the third quarter of 2018, over the previousquarter when only 52.6 percent hoped for growth.

Illustrative Image - Source: VNA

According to a survey by theGeneral Statistics Office (GSO), only 10.4 percent of the asked firms forecasta drop in their production.

Meanwhile, 91.7 percent ofenterprises with foreign direct investment (FDI) said their production islikely to increase or remain stable, while the ratio among the non-State firmsis 88.9 percent, and that of the State-owned sector is 87.8 percent.

The brightest productionprediction in the rest of the year was from the garment sector where 66 percentof firms see expansion, followed by electronic, computer and optical productproducers, and paper and paper product producers with 65.1 percent, beverageproducers at 62.7 percent and rubber and plastic product producers at 61.9percent.

The GSO also forecast exportorders, with growth and stability predicted in 90 percent of businesses.

Compared to the secondquarter of 2018, 92.7 percent of FDI enterprises predicted that their orderswill increase or stay stable in the third quarter, while the ratio amongState-owned firms is 90.3 percent and non-State firms 87.6 percent.

The highest amount of ordersin the rest of the year belongs to cigarette production at 56.3 percent,followed by transportation at 55.6 percent, garment at 55.4 percent,electronics, computer and optical product production at 53.6 percent and metalproduction at 50 percent.

Pham Dinh Thuy, Director ofthe GSO’s Industrial Statistics, said economic growth is still dependent on theFDI sector, as the sector has contributed largely to the creation of jobs,export revenue and State budget collection.


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