Vietnam’s industry grew 6.5% year on year in the first three months of 2020, with the manufacturing and processing sector expanding 9.45% and remaining as the main engine of the economic growth.

The processing and manufacturing sector took the lead in attracting foreign investment in the first three months to March 20, absorbing over US$5 billion, or 49.6%, announced the Foreign Investment Agency (FIA) at the Ministry of Planning and Investment.

Business activities in the Vietnamese manufacturing sector improved, as the number of new orders jumped in February due to the rising demand from the global market, which, in turn, saw firms raising output, staffing levels and purchasing activity.

VOV.VN - The disbursement of foreign direct investment (FDI) witnessed a positive annual increase of 2% to approximately US$2.5 billion during the first two months of the year, according to figures released by the Ministry of Planning and Investment.

The US independent management consultancy Asia Perspective has published a report on the Vietnamese economy, which highlighted that in the fourth quarter of 2020, Vietnam posted rapid growth thanks to the recovery of manufacturing.

VOV.VN - It is anticipated that the index of industrial production (IIP) in November will witness an increase of 0.5% from the previous month, with 9.2% growth in comparison to the same period from last year, according to the General Statistics Office (GSO).

VOV.VN - Vietnam attracted a total of US$23.48 billion in foreign direct investment (FDI) during the opening ten months of the year with Singapore leading the way at US$7.51 billion, making up 31.9% of overall investment in the country, according to statistics released by the Ministry of Planning and Investment.

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.