Vietnam: More than 49% of manufacturing firms optimistic about 3Q20

  • The number of processing and manufacturing enterprises optimistic about the business outlook in 3Q20 increased compared to 2Q20, according to a recent survey by the General Statistics Office (GSO).
  • In total, 49.1% of surveyed enterprises believed they will be in better shape 3Q20, an improvement compared to 38.8% of firms that expected business improvement in 2Q20.
  • Only less than 20% expected more difficulties in 3Q20 while the number anticipating difficulties in 2Q20 was 25.9%. Meanwhile, 31.5% of firms expect their business to be stable.
  • The non-State sector is the most optimistic with 82.6% forecasting stable or better business performance in 3Q20.
  • To support the growth of the processing and manufacturing industry in the remaining months of 2020, Nguyễn Thị Hương, GSO general director, urged ministries and localities to continue reforming processes and facilitating enterprises’ access to support policies.
  • In addition, authorities should strengthen their assistance for businesses in finding import markets for raw materials, spare parts and components, tackling difficulties and helping them maintain production, Hương said.
  • She also highlighted measures such as encouraging people to use domestically manufactured goods and urging businesses to participate in restoring broken supply chains and building and developing new value chains, focusing on handling inventories.

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