Business

70 percent of processing, manufacturing firms see better production volume

SGGP
The survey on 6,500 processing and manufacturing enterprises shows that 70 percent of them confirmed that the production volume increased and remained stable in the third quarter of this year.
Of these, 36 percent of enterprises said that production increased, and production remained stable for 34 percent of them. Meanwhile, 30 percent of enterprises expected a decrease in production. The national statistics office released the data on September 29.

Notably, the production volume forecast for processing and manufacturing enterprises is much more optimistic in the fourth quarter of this year, with 82.5 percent of enterprises forecasting production to increase or remain stable. Of these, 45.9 percent of enterprises forecasted an increase, and 36.6 percent of enterprises forecasted stable production. Only 17.5 percent of enterprises said that production would decrease.

In terms of types of business, the foreign direct investment (FDI) sector was the most optimistic, with 71.7 percent of enterprises saying that the production volume in the third quarter compared to the second quarter increased and maintained stable, followed by the state-owned sector with 69.7 percent, and the non-state sector with 69.4 percent.

However, when forecasting the production volume in the fourth quarter, the state-owned sector had the most optimistic forecast, with 84.4 percent of enterprises anticipating production to be better or stable. The FDI sector came next with 83.7 percent, and the non-state sector with 81.8 percent.

The sectors with optimistic forecasts for the increase in the production volume in the fourth quarter compared to the third quarter are manufacturing of electronic products, computers, and optical products with 61.9 percent, manufacturing of medicines, medicinal chemistry, and medicinal materials with 60.9 percent, manufacturing of beds, wardrobes, tables, and chairs with 51.1 percent, manufacturing of chemicals and chemical products with 51.0 percent, and the industry of machinery and equipment repair, maintenance, and installation with 50.5 percent.

Similarly, 71.9 percent of FDI enterprises said they saw the number of orders in the third quarter increase or remain unchanged in comparison with the previous quarter. Meanwhile, 70.5 percent of state-owned enterprises and 68.3 percent of non-state enterprises said the same.

The industries with optimistic prospects in the number of orders in the fourth quarter include manufacturing of electronic products, computers, and optical products with 60.3 percent, manufacturing of medicines, medicinal chemistry, and medicinal materials with 57.1 percent, manufacturing of beds, wardrobes, tables, and chairs with 50.7 percent, tobacco production with 50 percent and the industry of machinery and equipment repair, maintenance, and installation with 43.8 percent.

By Anh Phuong – Translated by Gia Bao

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