The Vietnam Manufacturing Purchasing Managers' Index (PMI) dipped fractionally below the 50.0 no-change mark to 49.9 last month, signalling broadly unchanged business conditions during the month.
Despite a tough year due to the COVID-19 pandemic, the national wood sector looks set to achieve its export turnover target of 12 billion USD, and some wood processing businesses have so many orders while they are in short of workers to complete them, according to the Vietnam Timber and Forest Product Association (Vietforest).
The start of the fourth quarter of the year saw the continued recovery of the Vietnamese manufacturing sector, with the country’s Manufacturing Purchasing Managers' Index (PMI) posting 51.8 in October.
Business and production activities are expected to pick up in the last three months of a year, thus helping with the recovery of the labour market from the negative impacts of the COVID-19 pandemic. Therefore, the unemployment rate is likely to drop and labourers’ income is expected to rise in the last quarter of this year, experts said.
Tra (pangasius) fish prices have dropped to their lowest levels in 11 years since exports have been hit by Covid-19, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Manufacturing sector returned to growth in September as concerns around the outbreak of the COVID-19 pandemic in the country eased. Both output and new orders increased, while business confidence strengthened, and the rate of job cuts softened.
Turnover of Vietnamese tuna exported to the EU has increased in the double digits since the EU-Vietnam Free Trade Agreement (EVFTA) took effect at the beginning of August.
Tra (pangasius) fish farming has been hit by a double whammy of COVID-19 and prolonged saltwater intrusion in rivers in the Mekong Delta region, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Experts believe Vietnam this year will reach its export target for timber and wooden products at 12 billion USD, despite the impact of the COVID-19 pandemic.
The Vietnam Manufacturing Purchasing Managers' Index (PMI) fell to 45.7 in August from 47.6 in July as the effects of COVID-19 led to a deterioration of business conditions in the country’s manufacturing sector, the latest survey by IHS Markit released this week showed.
Multiple tra fish companies suffered losses due to falling export prices and lower orders, focusing instead on the domestic market amid the COVID-19 pandemic.
Cambodia’s Ministry of Labour and Vocational Training (MLVT) is conducting a survey on garment workers’ living conditions and the impact of COVID-19 on them until July 31, local Khmer Times reported.
The Vietnamese manufacturing sector returned to growth in June as success in suppressing the coronavirus pandemic and greater business confidence helped lead to renewed expansions in output and new orders.
Despite the COVID-19 pandemic’s impact, the wood industry still enjoyed 3.2 billion USD in exports in the first four months of 2019, up 6 percent year on year, thanks to businesses’ efforts to switch to online trading and find new markets.
Many wood processing firms have managed to operate despite the COVID-19 pandemic and many have even chalked out measures to take advantage of the opportunities on offer when the pandemic is over.
The total textile and garment export value in the first four months of this year dropped by 6.6 percent year-on-year to 10.64 billion USD, according to the Vietnam Textile and Apparel Association (Vitas).
The Vietnamese manufacturing sector saw an intensification of the downturn last month with Manufacturing Purchasing Managers' Index (PMI) decreasing to 32.7 as a result of the coronavirus pandemic (COVID-19).
The Purchasing Managers' Index (PMI) that gauges manufacturing conditions in Singapore slumped to an 11-year low in April, as firms struggled with order cancellations as a result of global coronavirus containment measures.
Business
