Vietnamese manufacturers still struggling: survey

Thanh Nien News

Email Print

Vietnamese enterprises told researchers that they continue to face difficulties, though the overall business situation has improved in the first half of this year, VnExpress reported.
Around 4.2 percent of the 800 company-respondents said they had to suspend their operations for 1.5 months during the first five months of this year, according to the latest survey by the Vietnam Chamber of Commerce and Industry (VCCI).
They blamed the situation on difficulties they faced in finding customers and covering high input costs, VCCI representative Doan Thi Quyen said the Thursday release of the results in Hanoi.
Last year, 7.6 percent of surveyed firms halted their business for 2.5 months, Quyen said.

Photo credit: VnExpress
The latest survey also revealed that only 22 percent of questioned enterprises reached their sales targets in the first five months.
But many companies agreed that business conditions have improved thanks to simpler procedures and easier access to relatively low-interest bank loans, as well as market information and technology.
The business movement index went from minus 21 points last year to minus 5 points for the first half of this year, according to the VCCI’s Vietnam Business Insight Survey.
The index is calculated by taking the number of firms who assert that “the business situation is improving” minus the number of firms who asserted “the situation is getting worse”.
“Though the index experienced no breakthrough, the situation is becoming better,” Quyen said.
Nguyen Thi Hai Binh from the National Institute for Finance urged the government to help enterprises find customers.
She also called on companies to strongly restructure their operations and cut unnecessary costs.
Like us on Facebook and scroll down to share your comment

More Business News