• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Talk Vietnam

All About Vietnam

  • Home
  • About Us
  • Contact Us
  • Disclaimers
  • DMCA
  • Privacy Policy
  • Submit your story

Goods sales drop dramatically, from autos to fish sauce

June 21, 2012 by

High inventory volume remains the biggest threat to enterprises. Not only expensive products such as cars, motorbikes, but essential goods such as fish sauce have also been selling slowly.

Essential goods also left unsold

Some months ago, when big industrial manufacturers complained that they could sell products due to the weak demand, household goods manufacturers still kept unruffled, because they believed that consumers would only cut down expenses on luxurious products, while they would still have to buy food and other essential goods.

However, Cao Sy Kiem, Chair of the Small and Medium Enterprises’ Association, has affirmed that the unsalability has become serious, because people even do not have money to buy essential goods.

The Nha Trang Fish Sauce Association has said that its member workshops have to scale down the production. Though fish sauce is needed for people in their daily meals, the sales of fish sauce have still been slowing down. Some fish sauce companies have to keep the production at a moderate level since the beginning of the year.

“This shows that the market demand has fallen too sharply. The thing that businesses most expect from the Government now is the measures to stimulate the demand,” Kiem said.

The PMI Index (Purchasing Managers Index) in May 2012 released by HSBC showed that the business conditions of the production sector in Vietnam were worsening. The bank’s report showed that the PMI in the sector decreased from 50 points in March to 49.5 points in April and further to 48.3 points in May 2012.

The declines in production have been reported in most of industries, from textile and garment, footwear to plastics, from automobile, steel to electronics. Though it is now the highest garment production season of the year, most of garment companies still have been moving heaven and earth to seek orders.

According to the Vietnam Textile and Apparel Association Vinatas, big garment companies have reported the 10 percent decreases in the number of orders in comparison with the same period of the last year. Meanwhile, small companies are believed to lack 10 percent of orders.

Other industries including cement, steel, cars, motorbikes and electric equipments have to scale down the production since the beginning of the year already. The enterprises in the fields are running at 50-60 percent of the designed capacity.

Especially, even petroleum products have also been selling very slowly with the inventory volume of 106,000 tons, though the Dung Quat Oil Refinery has halted operation for regular maintenance.

Banks refuse inventories as mortgaged assets

The Ministry of Finance has announced the bail package worth 29 trillion dong. However, experts have estimated that the actual sum of money reserved for businesses would be some 9.5 trillion dong only, which is really a modest sum of money in the current difficult circumstances. Economists have pointed out that the bail package would help increase the total demand by no more than 0.8 percent.

Enterprises now expect the public investment package worth 120 trillion dong, and the 38 trillion dong worth of government bonds, which are believed to create big demands.

However, worries have been raised that if such a big sum of money is put into circulation within just a short time, this may lead to the return of high inflation.

Since manufacturers cannot sell products, they do not have capital for re-investment and production.

Some commercial banks have announced that they would consider accepting inventories as the mortgaged assets to provide loans to businesses, if the inventories can meet the banks’ requirements.

However, the method proves to be unfeasible. Businesses keep complaining that banks refuse to provide loans because they fear risks.

Tran Thuy

  • A Look at Recent Automotive Sales Figures
  • Leading and Managing Sales During a Recession
  • When is the Best Time to Steelhead Fish?
  • Increase Sales - Where Can I Find an Appointment Setter That Doesn't Expect a Paycheck?
  • Used Car Dealers Are Dropping Like Flies
  • Fish For Your Healthy Diet
  • Auto Car Dealers
  • Shopping For Auto Parts Online
  • Sales Letter Example That Sells
  • Business is Like Fishing
  • Pain Relief and Healing - Good and Evil in Earth and in Spirit
  • Good Habits Still Prevail Even As Gas Prices Continue to Drop!
  • The 10 Fundamentals of Direct Sales
  • US Prices Versus International Sales
  • Short Sale Or Loan Modification? Here's a Better Option
  • Real Estate - Is it a Good Time to Buy?
  • Platinum Prices Decline As Car Sales Wane!
  • Good HDL Cholesterol Foods - Bon Appetit
  • The Current State of the Canadian Auto Industry - May 2009
  • Water, Water Everywhere and Not a Drop to Drink - Could it Happen Here? Hopefully Not
Goods sales drop dramatically, from autos to fish sauce have 747 words, post on at June 21, 2012. This is cached page on Talk Vietnam. If you want remove this page, please contact us.

Filed Under: FinanceINVESTMENTMotoRMotorbikesSpecial reports chin su fish sauce, kimchi fish sauce, vietnamese fermented fish sauce, asian fish sauce, best fish sauce, nuoc mam fish sauce, fish sauce soy sauce, fish sauce umami, paleo fish sauce, pho fish sauce, thai fermented fish sauce, korean fish sauce, korean fish sauce for kimchi, easy vietnamese fish sauce recipe, fish sauce vermicelle, at the shore why does the sea level often drop dramatically before a tsunami arrives, inventory whose sales fluctuate dramatically according to the time of year mcq, fish to fish sauce, make fish stock from fish sauce, demographic stage where the death rate drops dramatically

Primary Sidebar

RSS Recent Stories

  • Volatile real estate market puts pressure on business results
  • MoIT propose adjusting fuel prices every Thursday
  • Heavyweight shares help stop market from a fall
  • Macro-economic stability, inflation control continue to be priority: Prime Minister
  • Local artists to attend Chingay Parade Singapore 2023
  • Buddhist artifacts make nationwide tour
  • Prime Minister chairs Government’s monthly law-building meeting
  • Prime Minister chairs monthly teleconference with localities
  • Bac Giang opens Tay Yen Tu Spring Festival, Culture – Tourism Week
  • Vietnamese university up 97 places in Webometrics ranking

Sponsored Links

  • UK, Denmark, and Australia Report Highest Daily Covid-19 Cases
  • Paolo Sorrentino’s Italian drama The Hand Of The God premieres on Netflix
  • The best movie scenes of 2021
  • Windows 11’s Default Command Line Catches up to Mac and Linux
  • What Is the Log4j Flaw, and How Does it Affect You?
  • Commander Keen 4: The First and Only Video Game I Loved
Copyright © 2023 Talk Vietnam. Power by Wordpress.
Home - About Us - Contact Us - Disclaimers - DMCA - Privacy Policy - Submit your story