The Nikkei Vietnam Manufacturing Purchasing Managers’ Index (PMI) in the first month of this year rose to the highest level since April 2017, indicating solid conditions in the manufacturing sector. — Photo cafef.vn The Nikkei Vietnam Manufacturing Purchasing Managers’ Index (PMI) in the first month of this year rose to the highest level since April 2017, indicating solid conditions in the manufacturing sector. The seasonally adjusted business activity index stood at 53.4 in January, up from 52.5 in December. A reading above 50 indicates economic expansion, while a reading below 50 points indicates contraction. Vietnam’s PMI has stayed above 50 for more than two years now. According to IHS Markit, which compiles the survey, the Vietnamese manufacturing sector made a strong start to 2018, registering sharp increases in output, new orders and employment. “The latest strengthening of business conditions was the 26th in successive survey periods and the most marked in nine months,” IHS Markit reported. New orders continued to rise at the start of the year amidst improving client demand. Moreover, the rate of expansion accelerated to a four-month high. Positive demand conditions were also highlighted in export markets, supporting a further solid increase in new businesses from abroad. New growing business supported a second successive monthly expansion of manufacturing output. The rise was solid and the fastest since last September. According to the report, firms made further efforts to expand their operating capacity in January, taking on extra staff at a sharp pace. In fact, the rate of… [Read full story]
Gold price hits new record high as world markets jitter By Trieu Thuong Linh - The Saigon Times Daily HCMC – People rushed to buy gold but companies refrained from trading as the local price broke a new record of VND48.6 million per tael on Monday over jittery global markets. After approaching VND48 million per tael in the morning, the price of the yellow metal advanced further in the afternoon to hit a new high of VND48.2 million for buying and VND48.6 million for selling, up by VND1.45 million against last weekend at Saigon Jewelry Holding Co. (SJC). A tael…... [read more]
Vietnam hit a record high in attracting foreign investment with a total capital of US$5.2 billion in the past five months. The growth rate of more than 30 percent was achieved in terms of disbursed capital, export value and budget contribution. Many of 400 foreign investment projects which have been granted licenses in the first half of this year are in poor and remote areas such as Thai Nguyen, Ha Giang, Cao Bang and Son La. The achievements are thanks to the Government’s open-door policy encouraging foreign investors to engage in projects for the import-export of seafood, garments and electronic…... [read more]
Vietnam is currently the second biggest rice exporter after Thailand and this high export figure can help the country close the gap with Thailand. Last year, the prices of export rice rose considerably due to increasing demand and a decision by a number of rice exporters including Vietnam to temporarily limit export volume to ensure domestic supply. The cheaper prices of Vietnamese rice compared to Thai rice has enabled Vietnam to become a stronger competitive rice exporter. According to the United Nations Food and Agriculture Organisation (FAO), Vietnam's rice exports are in good condition thanks to bumper crops, low prices…... [read more]
The overseas remittance to Vietnam is forecast to hit a record high of $9 billion, up $1 billion against last year, according to the World Bank. The WB said Vietnam remains one of 16 nations which have received the largest amounts of overseas remittance in the world. The figure will continue to rise with the growing volume of oversea remittance transferred to Vietnam through banking systems. The Head of the Overseas Remittance Service Department from the Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank), Ngo Xuan Hai, said that overseas remittance revenue channeled through the bank is expected…... [read more]
ROS hits new record highPhuong Thao HCMC – ROS, a key market driver, jumped to a new high on October 26, saving the local market from a strong decline after two consecutive sessions of sharp rises. The construction firm extended its winning streak to the 21st straight session, surging 6.6% against the previous session at VND183,400 a share. ROS reported matching volume of nearly 1.5 million shares. The VN-Index, meanwhile, fell slightly as losers still far outnumbered gainers by 185 to 77. The HCMC exchange saw 187.8 million shares worth VND4 trillion exchanged at the end of the day, up…... [read more]
