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The headline Nikkei Vietnam Manufacturing Purchasing Managers’ Index (PMI) came in at 50.0 in October, down from 50.5 in September, ending a 46-month sequence of expansion in the sector, according to Nikkei and IHS Markit.  A reading below the 50 neutral mark indicates no change from the previous month, while a reading below 50 indicates contractions and above 50 points to an expansion. As a result, business conditions in the Vietnamese manufacturing sector were unchanged in October as new order growth slowed and back-to-back declines in output were seen for the first time since the third quarter of 2013. Employment also decreased during the month. On the price front, the rate of input cost inflation accelerated and firms raised their charges for the first time in almost a year in response. Weakness in October was mainly centered on intermediate goods firms. While new order volumes continued to rise, the rate of growth was only marginal, having slowed for the third … [Read more...] about Vietnam’s manufacturing activity ends 46-month sequence of expansion

The Third International Russian-Vietnamese industrial exhibition "Expo-Russia Vietnam 2019" will be held from 14 to 16 November 2019 at the NATIONAL EXHIBITION CONSTRUCTION CENTER (NECC), Hanoi, Vietnam. Expo-Russia Vietnam 2019 to take place in National Exhibition Construction Center (NECC) in Hanoi, Vietnam. Photo: AVS The exhibition is organized with the aim of developing trade and economic ties between Russia and Vietnam, expanding the forms and directions of cooperation, as well as promoting the export products of Russian enterprises and organizations to the markets of Southeast Asia. The stand of the Novosibirsk region of the Russian Federation will present products and promising developments of enterprises in the fields of pharmaceuticals, mining and medicine of the following export-oriented companies: Vector-Medica is a manufacturer of antiviral immunobiological drugs based on recombinant interferon alpha-2b. They are used for the treatment of viral hepatitis, … [Read more...] about Novosibirsk region present at Russian-Vietnamese industrial exhibition “Expo-Russia Vietnam 2019”

Hanoi is willing to share its agricultural development experiences with Sri Lanka, Chairman of the Hanoi People's Committee Nguyen Duc Chung said at a reception for Sri Lankan Ambassador to Vietnam Sampath Prasanna Walpita Gamage in Hanoi on October 31. Chung affirmed that Hanoi’s enterprises are always willing to transfer technology to Sri Lanka’s in rice cultivation, fresh water aquaculture, among others.   Chairman of the Hanoi People's Committee Nguyen Duc Chung receives Sri Lankan Ambassador to Vietnam Sampath Prasanna Walpita Gamage. Photo: Thuy Linh Chung said Vietnam and Sri Lanka, as well as Hanoi and Colombo, share many cultural similarities. The two countries’ people always attach great importance to Buddhism and this is considered the national religion. The two countries have had long-term cooperation and huge cooperation potential in numerous fields such as commerce, education, tourism and agriculture, Chung said, expressing his desire to … [Read more...] about Hanoi willing to share agricultural development experiences with Sri Lanka

Vietnam’s growth engines in 2019 come from both supply and demand sides, according to Minister of Planning and Investment Nguyen Chi Dung.    Minister of Plannning and Investment Nguyen Chi Dung at the session. Source:Quochoi.vn. The growth quality has been improving, which was reflected through the result of the processes of economic restructuring and transitioning to a new growth model, Dung said at a discussion session at the National Assembly on November 31.  In the first ten months of 2019, the industry and construction sector continued to maintain high growth rates of 8.4%, in which the manufacturing and processing expanded 11% and served as the main driving force for growth, Dung stated, adding the economy has now become less reliant on the mining sector and credit growth.  According to Dung, industry, construction and services sector made up 86% of Vietnam’s GDP.  The contribution of total factor productivity (TFP), which is … [Read more...] about Vietnam’s growth engines come from both supply and demand sides: Minister

The delayed payment on a Vietnamese government-guaranteed loan in September was paid in full within the month and the administrative problems that gave rise to this delay are being addressed. Therefore, the delayed payment does not have an immediate impact on the rating, Fitch Ratings has said in a statement. Moody's Investors Service on October 9 said it would place Vietnam’s Ba3 sovereign rating under review for downgrade as the government delayed in paying an obligation. During a three-month review period, Moody's will assess the practices and systems the government has or is instituting, to ensure reliable, timely, and smooth payment of all obligations. The agency said it would downgrade Vietnam's rating if the rating review concludes that administrative gaps are such that a non-negligible risk of future delayed payments remains. The Vietnamese Ministry of Finance on October 10 stated the Vietnamese government has always honored the responsibility of the guarantor in … [Read more...] about Fitch downplays delayed payment of a Vietnamese government-guaranteed loan