Production, business do better in Q3

Production and business in the third quarter was stable and better than the second quarter, according to the General Statistic Office (GSO).

According to the GSO’s survey on business trend for enterprises in the processing and manufacturing industries, 85.6% of local enterprises said it was stable, however, 14.4% said domestic production and business still faced difficulties.

Nguyen Bich Lam, GSO’s director, on Thursday said production and business of local enterprises in the last quarter was expected to be better than the third quarter, especially for foreign-invested enterprises and state-owned firms.

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The GSO also said in the first nine months of this year the country had 81,451 newly-established enterprises with total capital of VND629 trillion, an increase of 19.2% in the number of enterprises and 49.5% in capital. Average registered capital surged by 25.4% to VND7.7 billion per enterprise.

The number of enterprises that revived production and business in the first nine months also rose by 59.6% to 20,549 units.

Those good results proved that new legal systems and the government’s solutions on support and encouragement for development of enterprises had improved efficiency and helped enterprises discover new opportunities in production and business, Lam said.

Nine-month industrial production up 7.4%

Vietnam’s index of industrial production (IIP) in the first nine months of this year rose 7.4% year-on-year, the General Statistics Office announced.

The growth rate was lower than the 10% recorded during the same period last year as a result of a 4.1% pproduction decline in the mining sector, GSO said.

In September alone, the IIP saw a year-on-year rise of 7.6%.

The processing and manufacturing sector, which accounts for more than 70% of the total value of the industrial sector, grew 10.4% in the reviewed period, electricity production and distribution rose 12.1%, while the water supply, waste and waste water treatment saw an increase of 6.9%.

As of September 1, the inventory index of the processing and manufacturing sector surged 9% compared with the same period last year, the GSO noted.

According to the GSO, the capacity for improvement in industrial production for the rest of this year is limited.

VNS

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