Vietnamplus

Vietnam attracted a total committed foreign direct investment of 3.1 billion USD in the first two months of 2023, down 38% year-on-year.

Vietnam is predicted to record a rise of 6.6% in industrial production in 2023, according to S&P Global Market Intelligence.

Malaysia's industrial production index (IPI) rose 4.6% in October, after registering double-digit growth for four consecutive months, according to the Department of Statistics Malaysia (DOSM).

The southern province of Ba Ria-Vung Tau has planned various measures to remove difficulties facing businesses and boost the growth of the supporting industry.

The manufacturing sector is a driving force behind economic growth, but manufacturers are still outcompeted by foreign rivals when it comes to core technologies, according to insiders.

Vietnam is regarded as an outstanding investment destination for high-value manufacturing with production capacity satisfying international investors, said Christopher J. Marriott, CEO of Savills Southeast Asia.

The Vietnamese manufacturing sector remained in growth territory at the start of the third quarter of the year, but there were some signs of demand softening, according to a survey released on August 8 by S&P Global.

Regarding the key tasks of the last six months of this year, the General Statistics Office said it will put forward specific policies and prompt implementation to support businesses to resume production.

Malaysia recorded net foreign investment inflows of 48.1 billion ringgit (10.93 billion USD) in 2021, the highest since 2016, signaling the robust recovery, according to the Department of Statistics Malaysia (DOSM).

Vietnam will see more realty projects invested by businesses from the Republic of Korea (RoK) in the coming time as they are seeking opportunities to enter and expand operations in the country, according to Andrew Lee, Korean Desk Manager at real estate consultancy Savills Vietnam.

Vietnam attracted over 10.8 billion USD of foreign direct investment (FDI) in the first four months of this year, equivalent to 88 percent of the amount recorded in the same period last year, according to the Ministry of Planning and Investment.

Singapore's Ministry of Trade and Industry recently announced that the country's gross domestic product (GDP) grew by 3.4 percent year on year in the first quarter of 2022, moderating from the 6.1 percent growth in the previous quarter, reported Xinhua news agency.

The Vietnam Manufacturing Purchasing Managers' Index (PMI) dropped to 51.7 in March from 54.3 in February, as the latest wave of the COVID-19 pandemic led to widespread labour shortages in the manufacturing sector during March, according to S&P Global.

The Vietnamese manufacturing sector remained in recovery mode in February, seeing growth accelerate further and confidence maintained, according to IHS Markit.

Businesses in the southern industrial hub of Binh Duong are needing 40,000-50,000 labourers, mostly unskilled workers, in order to promote production after the long Lunar New Year (Tet) holidays.

There are many driving forces for growth for Vietnam in 2022, and the growth target of 6.0 - 6.5 percent for 2022 is quite feasible, according to foreign economists.

Investment in Malaysia has increased remarkably in spite of the negative impact of the COVID-19 pandemic.

Boosting the development of the supporting industry is considered an important solution to help improve the quality and competitiveness of the Vietnamese economy and better serve the processing-manufacturing sector.

The Hanoi People's Committee has issued a plan for development of supporting industries in the capital city in 2021, affirming the importance of supporting industries in providing components, spare parts and materials for the processing and manufacturing sector.

Thailand’s Industry Ministry has said that COVID-19 has spread to the manufacturing sector at a worrying rate of 13 infected factories a day, with the food and electronics industries at the top of the caseload table.