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There were some reports of issues with the supply of raw materials in October, leading to higher input prices and longer suppliers' delivery times.  The rate of input cost inflation accelerated to a five-month high, but remained below the series average. In response to a larger rise in input prices, firms increased their output charges for the first time in 11 months. The rate of output price inflation was only marginal, however, as fragile customer demand restricted pricing power.  “The soft patch in the Vietnamese manufacturing sector continued in October, with firms seemingly cautious regarding output, employment and purchasing given signs of weaker new order growth and global demand weakness,” said Andrew Harker, associate director at IHS Markit, which compiles the survey. "It is important to note, however, that the historical relationship between the Vietnam PMI and official data suggests that even a reading around the 50 mark translates into solid … [Read more...] about Vietnam’s manufacturing activity ends 46-month sequence of expansion

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, treatment of herpes, prevention of infections.  Novosibkholod (TM "POLARIS") is one of the largest and most experienced ice-cream producers in Russia for more than 60 years. Today Polaris products are widely known in Southeast Asia. RIT Automation is a Russian developer and integrator providing high-tech solutions to improve the … [Read more...] about Novosibirsk region present at Russian-Vietnamese industrial exhibition “Expo-Russia Vietnam 2019”

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 promote investment, tourism and student exchanges. The Hanoi mayor hoped that the ambassador will be a bridge to promote Sri Lanka-Vietnam cooperation. As Sri Lanka and Vietnam are preparing to celebrate the 50th anniversary of establishing diplomatic relations in 2020, he affirmed that Hanoi will support Sri Lankan art troupes to perform in Hanoi.  For his part, Sampath Prasanna Walpita Gamage said that some 1,800 Vietnamese tourists visit Sri Lanka and this is a positive sign. Thereby, he pledged to focus efforts to attract Vietnamese tourists to Sri Lanka. It is expected … [Read more...] about Hanoi willing to share agricultural development experiences with Sri Lanka

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 determined by how efficiently and intensely the inputs are utilized in production, to GDP remained over 40%, higher than previous periods of 33.58% and exceeding the target of 30 – 35%.  Vietnam’s productivity in the 2016 – 2019 … [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