vietnam manufacturing sector

DUBLIN, Oct. 25, 2019 /PRNewswire/ -- The "The Furniture Industry in Vietnam " report has been added to ResearchAndMarkets.com's offering.. Part II. Vietnam is a food processing hub that tries to meet the high demand for processed food from both local and international markets. Vietnam has also been named among the Next Eleven and CIVETS countries. Industry corresponds to ISIC divisions 10-45 and includes manufacturing (ISIC divisions 15-37). In fact, the domestic manufacturing industry contributed approximately 25% to Vietnam's total GDP in 2021 as per data from Statista. Get in touch with us now. Domestic supply : Vietnam's supply of raw plastic materials can only meet 4 (mainly PVC plastic beads) out of 30 types of primary plastic materials. In 2020, on average, male employees working in manufacturing earned around 7.3 million Vietnamese dong per month in . While premature de-industrialization sweeps through the world economy, Vietnam's. Ho Chi Minh, Vietnam, Nov. 04, 2020 (GLOBE NEWSWIRE) -- Home to a population of over 92 million, Vietnam . This sector is gaining fame due to the present rise in demand for furniture products from Vietnam. The output index of the manufacturing sector, along with the share of employed workers in the sector, has also gradually risen in recent years. However, Vietnam plastic industry has to deal with several difficulties and challenges resulting from a shortage of raw material supply, a slight rise in the price of some key materials, etc. 3323 251-Manufacture of structural metal products, tanks, reservoirs and steam generators. Vietnam's localization rate at 36 percent is lower than China and India with low rates of procuring local components. In the second quarter of 2021, Vietnam's leather and footwear industry still faces a number of difficulties such as high input material prices; shorthanded; The shortage of empty containers and logistics costs have not returned to normal, the Covid-19 epidemic broke out again in localities where many large footwear enterprises are concentrated such as Hai Duong, Ho Chi Minh City, Dong Nai . Figure 2: Textile and apparel industry of Vietnam at a glance. VietNamNet Bridge - The difference between made-in-Vietnam and foreign-made . ET Beverages. Seeing detailed industry news here: bit.ly/3CtNQqU Vietnam 's industrial industry accounted for 16.48% of the country's overall GDP in 2019, hitting a volume of VND995.13 trillion. It comprises value added in mining, manufacturing (also reported as a separate subgroup), construction, electricity, water, and gas. It's considered a developing nation, but Vietnam is capable of high quality manufacturing while providing lower production costs at the same time. Customs exports, industrial production and manufacturing purchasing all fell sharply in August, prompting JPMorgan to cut its third-quarter GDP forecast for Vietnam to 3% from 4.1%. The difference between made-in-Vietnam and foreign-made smarthome solutions is that the former can be controlled by demands in Vietnamese, regardless of whether the house owners speak with northern, central or southern accents. Recently, Vietnam become a major alternative manufacturing destination for businesses that are seeking to diversify their supply chain amid uncertainties caused by the pandemic and the US-China trade war. We specialise in precision components for motobike, jig, mould, springs, etc. The 2021 edition is especially co-organized by Reed Tradex Vietnam- the leading exhibition organizer in ASEAN and The Japan External Trade Organization . Gain access to the best database of targeted leads from Manufacturing companies in Vietnam. 25 332 25-Manufacture of fabricated metal products, except machinery and equipment. This page provides - Vietnam Manufacturing Production- actual values, historical . In 2020, Vietnam had about 110,000 companies within the manufacturing sector, which was roughly 2.5 instances larger than in 2010. License : CC BY-4.0. Main industrial products. In 2021, Vietnam's manufacturing sector accounted for 25.13 percent of the country's total GDP, reaching a value of over 2.1 thousand trillion Vietnamese dong. A surge in demand for personal protective equipment (PPE) from the manufacturing sector in Vietnam due to COVID-19 pandemic, along with the orders that flowed in from around the world helped to . We have ISO 9001 and ISO 14001 certification. Manufacturing's key drivers The industrial sector will account for over 40% of Vietnam's gross domestic product (GDP) by 2030, with manufacturing and processing industries making up some 30% and manufacturing industry alone accounting for over 20%. Vietnam has striven incessantly with the goal of cementing its IT industry in Vietnam by wooing more investments in the sector. In 2020, on average, male employees working in manufacturing earned around 7.3 million Vietnamese dong per month in . Vietnam's supporting industry has significant potential given the rising manufacturing sector and economic growth. Manufacturing sector leads strong growth in Vietnam's GDP 15 January 2018 Andrew Harker GDP up 6.8% in 2017 Economic growth boosted by strong manufacturing performance Manufacturing PMI posts highest annual average since survey began in 2011 The Vietnamese economy is one of the fastest growing in the world at present. Meanwhile, the trend improved sizably, with the annual average growth of industrial production coming in at 4.8%, up from February's 3.5% reading. Vietnam is highly connected to China on the northern side, which makes the supply of raw materials quite easy for manufacturing, and through the South China Sea and Pacific, it's also connected to North America," said Shoeib Reza Choudhury, Country . For the period 2016-2021, Vietnam is expected to have the highest average growth rate in Southeast Asia at 17.4 percent, compared to the 6.1 percent in ASEAN. Garment manufacturing accounts for 70% of the total businesses in this sector in Vietnam with CMT (Cut, Make, Trim) being the main method (85%) of export. One of the biggest appeals of manufacturing in Vietnam is the low cost of labor. Currently, only about 500 firms in Vietnam are engaged in the supporting industry production, accounting for . Vietnam's electronics industry, an increasingly important sector of the country's economy, continues to grow despite the negative impact of the COVID-19 pandemic. Your unique logistics requirements lie at the heart of our business. Vietnam enters global smarthome industry. [Industry new] In 2022, Vietnam's building materials industry has three brands that have been granted Green Label certification by the Singapore Green Building Council, of which NS BlueScope Vietnam is the first and only enterprise in the galvanized steel industry to receive this certification. With arising opportunities due to government reforms, trade liberalization, tax incentive policies, and labor quality improvement, Vietnam has become a new favored destination option for foreign investors looking to relocate their Electronic Industry (EI) investment in Asia.This webinar will point out how to tap these trends effectively, to understand recent events in electronics production . Recently, Vietnam become a major alternative manufacturing destination for businesses that are seeking to diversify their supply chain amid uncertainties caused by the pandemic and the US-China trade war. Bordering the manufacturing giant that is China, Vietnam benefits from the manufacturing expertise that continues to spill over as existing factories in China become more and more overcrowded. 3.0 Overview of the Textile and Apparels Industry in Vietnam 12-23 3.1 Raw Materials of Primary Textile Industry Sector in Vietnam 13 3.1.1 Cotton 13 3.1.2 Polyester/Synthetic Fibers 13 3.1.3 Silk 13 3.2 Primary Textile Industry Sector in Vietnam 13 3.2.1 Technology Used in Textile Industry of Vietnam 14 VIETTEL, Viettel Military Industry and Telecoms Group, is Vietnam's largest telecommunication service provider. Vietnam is the world's 3rd largest Clothing Exporter and has the fastest-growing output of any country In Vietnam, there are over 6,000 factories dedicated to clothing and textiles, and the industry employs over 2.3 million people throughout the Country. Vietnam's Ministry of Industry and trade said there are more than 6,000 garment factories and textile mills in the country, and the sector employees some 3 million workers in 2020. Vietnam Credit Industry Index has been created since 2009 and updated every year. The Association seeks to promote Vietnamese apparel, garment and textile manufacturers to the world and host regular events and trade shows as well as maintaining a directory of . Manufacturing Production in Vietnam increased 9.60 percent in March of 2022 over the same month in the previous year. Sluggish Economic Prospects to Come in Vietnam's Key Export Markets. 25.1 2511- Manufacture of structural metal products. We turn the challenges you face in the marketplace into your opportunities, giving you a competitive advantage. Televisions, smartphones, smartphone parts, processors, chips and electrical appliances are major made-in-Vietnam electronics products. Moreover, the underlying strength of Vietnam's industrial sector remains intact despite Covid-19: Vietnam is an attractive low-cost base for manufacturing firms, including those looking to relocate from China due to the U.S.-China trade tensions. Vietnam is a trade leader in some sectors, if you are currently sourcing products in Vietnam to be assembled or even manufacture for those specific sectors, you will acquire advice and insights on the manufacturing and exporting vietnamese market. The food industry is dominated by agricultural and sea products that are canned and shipped overseas, the sector accounts for 40% of Vietnam's export and directly contributes 15% of the GDP. Throughout the duration of the global pandemic, Vietnam's economy has remained resilient thanks in large part to the success and growth of its manufacturing sector. The 2019 minimum wage in Vietnam ranges from US$125-180 per month. Between 2015 and 2019, Vietnam cumulatively spent . 24.54 33152 2432- Casting of non-ferrous metals. This study offers an up-to-date and detailed overview of . World Bank national accounts data, and OECD National Accounts data files. Search Manufacturing Companies in Vietnam Lead Generation and Sales Prospecting Made Easy ZoomInfo is the premier lead generation company. According to a report by IHS Markit, Vietnam's manufacturing purchasing managers' index (PMI) increased to 52.2 in November from 52.1 in October, attributed largely to higher new orders and government incentives. VME & SIE are right here, right now for your business match making and interaction in the first and exclusive online manufacturing and supporting industry exhibition across Vietnam and the area. Vietnam which for long was globally known as a place of conflict has emerged in the 21st century as one of the brightest emerging markets of the 21st century. Economic reforms since the launch of Đổi Mới in 1986, coupled with beneficial global trends, have helped propel Vietnam from being one of the world's poorest nations to a middle-income economy in one generation. VietnamCredit Industry Index is a unique synthesis developed by VietnamCredit based on a complete data set of businesses operating in certain economic sectors. That's down from 54.3 in February although it remains above the boom-or-bust line of 50 that separates expansion from contraction. Manufacturing, value added (annual % growth) - Vietnam. apparel and textile market.2 The garment and textile industry is Vietnam's larg-est single source of formal private sector employment with a direct labor force of more than two million workers.3 By comparison, electronics assembly, one of the country's other leading export manufacturing sectors, employs approximately 120,000 workers.4 Internet income of producing industries went up from US$100 million in 2010 to almost US$450 million in 2019. industries have achieved the high growth rate (over target), like: car manufacturing +52.2%, motomobike manufacturing + 19.2%, machine tools +69.8%, transformer + 17%, air-conditioner + 51.9%, washing machine manufacturing +21.3%, electricity fan + 18.6%, electricity +13.2%, steel +10.8%, clean coal +11.5%, cement +11.8%, seafood processing … Mar 15, 2022 | USD 250. Several big multinational electronics enterprises has transferred their operation partly or completely to Vietnam. According to the CIEM, if medium-level technologies are applied, Vietnam's Industry 4.0 strategy will likely enable the country to see strong growth in many key economic sectors by 2030 such as manufacturing (16 per cent), wholesale and retail (20 per cent or $9.5 billion), agro-forestry-fishery (12 per cent or $6 billion), supply of . Get in touch with us now. A score of 50 or more means an expansion in manufacturing. Vietnam is the world's seventh fastest-growing aviation market. Some main industrial products per capita (*) Viet Nam energy balance in 2018 (*) Some basic indicators on average energy consumption in the period of 2015-2018. Out of all Vietnam manufacturing sectors, the most known would probably be the textile industry. The Vietnam Manufacturing Industry is expected to grow from a current market size of $XX.XX Billion to a market size of $XX.XX Billion by the year 2020, by growing at a CAGR of X.XX%. The Vietnamese government's improvement in regulations and policies to better accommodate foreign investments in the IT sector is sustaining the dream of complete digitalization in Vietnam over the next decade. The study, which has been done by one of the world's leading research and advisory firms, covers all the requisite aspects . Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. Due to extremely competitive wage policies, one of the lowest in the region, textile and clothing has become the largest contributor to Vietnam's exports. The Vietnam automobile industry has developed gradually since the government announced an automobile industry development policy in 1998. Research Expert covering Vietnam. While global trade has stagnated, Vietnam's trade has soared to 190 percent of GDP in 2017 from 70 percent in 2007. 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