Manufacturing, processing maintains strong growth in Q1
Vietnam’s industry grew 6.5 percent year on year in the first three months of 2020, with the manufacturing and processing sector expanding 9.45 percent and remaining as the main engine of the economic growth.
Hanoi (VNA) – Vietnam’s industry grew 6.5 percentyear on year in the first three months of 2020, with the manufacturing and processing sector expanding 9.45 percent and remaining as the main engine of the economicgrowth.
The three-month manufacturing and processing expansion washigher than 7.12 percent growth of last year’s Q1, but lower than 14.3 percentand 11.52 percent of 2018’s and 2019’s same period, respectively, according tothe General Statistics Office of Vietnam (GSO).
Significant growth was reported in some other sectors,including metal production (30.9 percent), beverage production (16.9 percent),electric device manufacturing, and mining of metal ores (both 12.5 percent).
Sharp decline, by contrast, was seen in exploitation ofcrude oil and natural gas (13.7 percent), mining support services (17.5percent), wastewater drainage and treatment (5.6 percent) among others.
The GSO pointed out several key industrial products thatexperienced high growth from January-March, such as rolled steel (54 percent), phoneparts (47.9 percent), television sets of all type (30.9 percent), automobile (17.7percent), and formula milk (17.5 percent).
It also recorded 22.5 percent increase in the industry’s inventory,with the highest level seen in manufacture of rubber-made products and plastics(91.6 percent), manufacture of coke and refined petroleum products (85.7percent), and metal production (68.1 percent)./.
Vietnam’s gross domestic product (GDP) in the first quarter of 2021 is estimated to rise 4.48 percent, higher than 3.68 percent recorded in the same period last year, the General Statistics Office (GSO) General Director Nguyen Thi Huong reported at a press conference on March 29.
The processing and manufacturing sector took the lead in attracting foreign investment in the first three months to March 20, absorbing over 5 billion USD, or 49.6 percent, announced the Foreign Investment Agency (FIA) at the Ministry of Planning and Investment.
In an era of protectionism where the jitters of COVID-19 are still being felt by many economies, Vietnam is soaring to become one of the prime locations for export manufacturers, said a recent article published on the Hong Kong-based global industry analysis firm Counterpoint.
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Vietnam’s manufacturing sector gained growth pace at the end of the first quarter, with marked increases in output, new orders and exports, leading to stronger rises in employment and purchasing activity, according to a report by the London-based global information provider IHS Markit.
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PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
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The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
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Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Illustrative photo. (Source: VNA)
