Hanoi industrial production expands 7.5% in Jan-Feb
Manufacturing and processing, which accounts for 96.5% of total production value in the industry sector, expanded 7.8% year-on-year between January and February.
Manufacturing and processing, which accounts for 96.5% of total production value in the industry sector, expanded 7.8% year-on-year between January and February.
The health of the sector has now strengthened in three successive months.
Japan regained the position of largest investor in Vietnam for the first two months of 2021 with US$1.64 billion, or 30% of the total registered FDI.
Firms are confident looking ahead to the coming year, with hopes that export demand in particular will recover should the Covid-19 pandemic be brought under control worldwide.
Vietnam records an economic growth of 2.91% - an impressive achievement amid gloomy global forecasts.
While purchasing activity and employment were scaled back, business sentiment improved to a 16-month high.
FDI commitments in the January–November period fell nearly 17% year-on-year to US$26.4 billion.
Industrial property continues dominating the market thanks to the fast growing manufacturing industry.
Domestic production and exports are key driving forces for Vietnam’s economy this year, state an expert.
Anecdotal evidence suggested that success in bringing the Covid-19 outbreak under control in Vietnam had helped lead to a recovery in customer demand.