Tag: manufacturing

China remained the top supplier, with imports increasing by 8.11 percent to US$2.72 billion. South Korea contributed US$412.03 million, marking a slight growth of 2.01 percent, while the USA recorded a 5.34 percent increase, totalling US$96.87 million.

Year-on-year, the processing and manufacturing industry showed an impressive growth rate of 11.22 percent in November 2024 compared to the same period in 2023. Over the first 11 months of 2024, the sector achieved an overall increase of 9.69 percent compared to the corresponding period last year, underlining its role as a driving force for Vietnam’s economy.

Year-to-date (YTD), the sector has attracted a total of 1,030 new projects and US$20.2 billion in newly registered capital, demonstrating strong and consistent growth in the industry.

Year-to-date performance shows robust growth. From January to October, exports in this category totalled US$650.34 million, an 18.2 percent increase compared to the same period in 2023.

However, year-to-date performance shows little change. From January to October, the sector’s exports totalled US$3.13 billion, reflecting a slight decline of 0.7 percent compared to the same period in 2023.

Year-on-year, the IPI rose by 8.94 percent in November 2024 compared to the same period in 2023. Over the first 11 months of 2024, cumulative growth reached 8.36 percent, demonstrating the vitality of Vietnam’s industrial economy.

The S&P Global Vietnam Manufacturing Purchasing Managers’ Index recorded a fall in November over October, from 51.2 points to 50.8, according to a press release from the firm. This is still above the 50-point no-change point signalling the sector is still in an expansionary phase.

Year-to-date figures further highlight strong performance. From January to October, Vietnam exported plastic products valued at US$5.46 billion, a 30.5 percent increase compared to the same period in 2023.

Year-to-date performance, however, remains flat. From January to October, paper exports totalled US$1.75 billion, a slight 0.4 percent decrease compared to the same period in 2023…

Year-to-date figures reveal even stronger growth. From January to October, exports in this category totalled US$43.05 billion, representing a 21.5 percent increase compared to the same period in 2023.

Vietnam’s chemical industry is a vital sector supporting agriculture, manufacturing, and consumer goods. It encompasses a broad range of products, including fertilisers, petrochemicals, basic chemicals, agrochemicals, specialty chemicals, and consumer chemicals. 

Year-to-date figures highlight substantial growth. From January to October, glass and glassware exports totalled US$971.86 million, a significant 43.5 percent increase compared to the same period in 2023…

The facility specialises in producing PV film, a critical supporting layer for photovoltaic panels, with an annual production capacity of 155,000 tons. The project creates employment for 231 workers and is expected to generate an annual export value of US$60 million…

It’s hoped this expansion will bolster the park’s ability to attract major investors, adding to its existing roster of notable tenants like Pegatron, Vietnam Advance Film Material, Core5, Posco, and Pyeonghwa Automotive. These companies represent a combined capital of US$5 billion…

Year-to-date figures also indicate significant growth. From January to October, chemical exports totalled US$2.28 billion, a 15.2 percent increase compared to the same period in 2023…

Year-to-date figures are more encouraging, with chemical exports from January to October totalling US$2.22 billion. This marks a 12.1 percent increase compared to the same period in 2023, highlighting robust growth in the sector over the year…

Year-to-date figures also show consistent growth. From January to October, ceramic exports totalled US$537.78 million, an 8.6 percent increase compared to the same period in 2023…

The steady influx of foreign capital into manufacturing reflects Vietnam’s appeal as a regional industrial hub, offering a cost-effective environment for companies looking to establish or expand operations within Southeast Asia. This trend can be attributed to a number of factors including Vietnam’s competitive workforce, strategic location, and favourable government policies tailored to support foreign manufacturing operations..