According to a comprehensive survey conducted by the General Statistics Office of Vietnam, encompassing 20,587 enterprises, the manufacturing sector demonstrates significant optimism for the fourth quarter of 2024. The survey reveals that 42.2% of manufacturing enterprises anticipate improved business performance compared to Q3 2024, while 40.4% expect stable operations, and only 17.4% forecast challenging conditions.
The sector projects growth across new orders, workforce utilization, and production output. Notably, the production balance index is expected to reach 25.4%, a substantial increase from 14.8% in Q3, indicating robust recovery momentum.
Order forecasts paint an encouraging picture, with 40.5% of surveyed enterprises expecting increased order volumes, 43.3% anticipating stable orders, and 16.2% projecting decreases. Regarding export orders, 36% of businesses forecast growth, 47.6% expect stability, and 16.4% anticipate declines.
Foreign Direct Investment (FDI) enterprises are positioned to achieve the most positive outcomes, with the highest projected increases in production output and new orders.
To address current challenges and promote growth, manufacturing enterprises have presented several recommendations to government authorities:
- Further reduction in lending rates
- Stabilization of raw material and energy prices and supply chains
- Support for workforce training programs to meet new production requirements
- Enhancement of logistics service quality
- Reduction in industrial land rental costs
- Ensuring stable power supply
Additionally, businesses advocate for:
- Implementation of domestic demand stimulus measures
- Support in identifying effective sales partnerships
- Strengthening trade promotion activities
- Streamlining administrative procedures, particularly for loan applications
Key Highlights:
1.Positive Business Outlook:
42.2% predict improved conditions
40.4% expect stability
Only 17.4% anticipate deterioration
2.Dual Growth in Production and Orders:
Production balance index projected at 25.4%, up 10.6% from previous quarter
40.5% forecast increased order volumes
36% expect growth in export orders
3.FDI Sector Leadership:
FDI enterprises show strongest growth indicators in production and new orders
Demonstrate most robust development trajectory
4.Diverse Enterprise Recommendations:
Advocating for reduced interest rates and land rental costs
Calling for stable raw material and energy supply
Proposing enhanced vocational training and trade promotion
Seeking streamlined administrative and lending procedures
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