Manufacturing

Vietnam’s top lawmaker hosted private meetings with executives of leading Indian companies operating in IT, manufacturing, oil and gas, and Covid-19 vaccines.

Business sentiment picked up from the 15-month low seen in August as firms generally expect output to recover over the coming year.

Vietnam’s economy suffered a contraction of 6.17% year-on-year in the third quarter.

To date, 291 industrial parks across the country have resumed operation with an average occupancy rate of 71%.

Vietnam’s manufacturers are facing an uphill task to keep operation amid restriction measures.

Firms remained optimistic overall of output growth over the coming year.

Hanoi’s economic performance is dependent on its success in containing the Covid-19 pandemic.

Business sentiment eased to a three-month low on worries about the Covid-19 outbreak, but firms remained optimistic overall that output will increase over the coming year.

Hopes that these trends will continue and that the Covid-19 pandemic will come to an end supported the greatest business confidence since mid-2019.

The GDP growth target of 6.5% for 2021 is a challenge for the country, which requires strong efforts from the government, business community and people.