Vietnam is expected to be among the top three Southeast Asian countries in terms of industrial competitiveness by the end of this decade, as outlined in an action programme issued by the Ministry of Industry and Trade (MoIT) this week.
In the first five months of this year, the Index of Industrial Production (IIP) was expected to increase 6.8% year-on-year, with the processing and manufacturing industry growing by 7.3%, contributing 6.4 percentage points to the overall growth.
The performance of Indonesia's manufacturing industry is predicted to grow by 5.8% in 2024 amidst the challenge of global geoeconomic and geopolitical impacts, according to Minister of Industry Agus Gumiwang Kartasasmita.
Expecting a growth rate of 7% in the fourth quarter, Vietnam has high possibility to achieve about 5% growth for the whole year, held experts, assessing that although the figure is under the target of 6.5%, it is still a positive result.
Supporting industries play a significant role in the economic restructuring towards industrialisation and modernisation, contributing to enhancing labour productivity, competitive capacity, and value creation, and increasing the contribution of the processing and manufacturing industries to the wider economy.
Vietnam's manufacturing industry remained in contraction territory in July but showed some signs of stabilisation as softer declines were seen in output, new orders and employment while business confidence picked up, according to S&P Global.
The index of industrial production (IIP) of the northern port city of Hai Phong is expected to grow by 13.5 – 14.5% per year, towards increasing the proportion of the manufacturing industry in GRDP to 46%.
Indonesia's trade balance recorded the 31st consecutive month surplus, reaching 5.16 billion USD as of November 30, reported the Statistics Indonesia on December 16.
In the first half of 2021, the export turnover of the Indonesian manufacturing sector increased by 33.45 percent year-on-year to 81.07 billion USD, contributing 78.80 percent of the country's total export value of 102.87 billion USD.
Indonesia’s National Development Planning Ministry has said it is preparing four strategies to strengthen economic resilience in pursuit of quality and just growth.
The November index of industrial production (IIP) in Ho Chi Minh City picked up 3.4 percent compared to the previous months, but the index for the January-November period fell 4.4 percent year on year.
The Ministry of Industry and Trade (MoIT) will focus on removing difficulties in industrial sectors in the second half of this year, especially the processing and manufacturing industry, to expand production and business.
Indonesia’s manufacturing industry kept positive growth at 10.11 percent in the first quarter of 2020 amid the pressure caused by the COVID-19 pandemic.
Indonesia's economy is likely to begin recovering in the last quarter of 2020 before the growth accelerates in 2021 with an expected expansion of between 4.5 and 5.5 percent, according to Indonesian Finance Minister Sri Mulyani Indrawati.
The Purchasing Managers’ Index (PMI) of the Philippines in manufacturing rose to 52.3 points in February from 52.1 last January in spite of the COVID-19 outbreak, according to London-based global information provider IHS Markit Ltd (IHS Markit).
A survey conducted by the Japan External Trade Organization (JETRO) has found that Indonesia’s productivity in the manufacturing industry is lower than that of its peers in other Southeast Asian countries.
