Up to 82.6 percent of the processing and manufacturing enterprises said they enjoyed a more stable and better business operation in the second quarter of the year. (Photo: VNA)Hanoi (VNA) – Up to 82.6 percent of the processing and manufacturingenterprises said they enjoyed a more stable and better business operation inthe second quarter of the year, according to the General Statistics Office ofVietnam.
The foreign direct investment firms have the highest business confidence with85.7 percent believing that their business improved and stabilised duringApril-June. Meanwhile, the percentage for state-owned and private companies was80.8 percent and 81.6 percent, respectively.
In stark contrast, 17.4 percent of the firms said that they had to strugglemore than the previous quarter.
Competitiveness was touted as the dominant factor that left enormous impacts onproduction and business activities. According to the statistics office, 59.4percent of the firms said that they were affected by competitive edge while46.2 percent believed that underperformed business was spurred by low demandsin the domestic market.
Financial issue, shortage of qualified labourers, high deposit rate, lack ofmaterials, and out-of-date technology and equipment were the other factorschallenging local businesses in the period.
Regarding volume of orders, 82.8 percent of the firms reckoned that the numberwould be higher than the previous quarter while 17.2 percent said that they wouldface less orders than the previous quarter. Up to 84.8 percent of theenterprises affirmed that they had more orders from overseas market.
Product inventory was reported to decrease or remain stable among 81.7 percentof the domestic companies.
However, the statistics department said that businesses have more positiveoutlook for their business prospects in Quarter 3 with 88.5 percent of thefirms upbeat about their performance.
The statistics were compiled based on the latest survey on the quarterlybusiness performance trend of 6,500 industrial processing and manufacturingcompanies in 63 provinces and State-run cities. -VNA
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