02/01/2018 14:58 GMT+7 Email Print Like 0

Processing, manufacturing firms expect better business in 2018 Q1

Up to 48.2 percent of the processing and manufacturing enterprises joining in a survey of the General Statistics Office (GSO) said business activities in the first quarter of 2018 will be better.

The survey on business trend of the processing and manufacturing enterprises for the first quarter of this year showed that 35.7 percent of the surveyed enterprises thought their business will be stable in comparison with the fourth quarter of 2017.

Meanwhile, 16.1 percent of the firms predicted they will be hit by more difficulties.

Up to 49.2 percent of the firms forecast an increase in their production, while 14.9 percent predicted a reduction and 35.9 percent foresaw stability in their performance as they made a comparison with their operations in the fourth quarter of 2017.

Meanwhile, 35.8 percent of the firms will see an upturn in the number of orders for export, while 14.9 percent are likely to suffer a downturn. Up to 50.2 percent of businesses said they may see no changes in their orders from the fourth quarter of 2017, according to the survey.

The GSO reported that the number of new enterprises set up in 2017 was 126,859 with a total capital of over 1.29 quadrillion VND (56.8 billion USD), a year on year rise of 15 percent and 45 percent respectively.

Together with nearly 1.87 quadrillion VND (82.46 billion USD) of additional capital of 35,000 operating enterprises, total capital pumped to the economy in 2017 was 3.16 quadrillion VND (139.3 billion USD).

At the same time, 26,448 enterprises resumed their operation, down 0.9 percent year on year, raising total operating firms to 153,300.

The retail and wholesale sector drew the largest number of new businesses with 45,400 firms, followed by the processing and manufacturing sector with 16,000 enterprises and construction with 16,000 firms. Science, technology, consultation services, design, advertisement and other sectors also saw 9,400 new enterprises.

Increase in the number of newly-established businesses was recorded in all regions, leading by the southeast region with 53,700 firms, up 14 percent.

However, in 2017, 60,553 businesses halted their operation, a fall of 0.2 percent year on year. 12,113 others were dissolved during the year.