Vietnam’s trade confidence index hits 3-year high

garment_1_FLHK

 

Vietnam’s short-term outlook took a positive turn after the Trade Confidence Index rose to 120 in the first half of this year, its highest in three-and-a-half years, in HSBC’s release of its latest trade survey on Wednesday.

Almost half of the survey respondents said they expect trade flows to increase over the next six months; a third cited higher demand from key markets as the main reason.

HSBC estimated that textiles and garments will continue to dominate Vietnam’s exports, although shipments of information communication technology (ICT) products will also grow strongly.

Vietnam’s advanced technological infrastructure has helped the garment sector advance into higher value clothing lines, the bank noted.

“Led by these two industries we expect exports to grow by more than 11 percent per year between 2014 and 2020,” according to the report.

More than 50 percent of survey respondents cited the costs of essential services such as shipping, logistics and storage as a barrier to expanding trade and almost a third cited rising interest rates.

Less than a quarter, however, complained of a lack of demand.

Six months ago, half the respondents complained of sagging demand.

“Vietnam has made good progress in improving its business environment over the last decade but it is crucial that these efforts continue,” the HSBC report said.

Vietnam reaped export revenues of $97 billion between January and August — up 14.1 percent over the same period last year, according to the General Statistics Office.

 

 

 

Source : Thanh Nien News | September 18, 2014

Thomas D’Innocenzi

Advertisements

About thomasdinnocenzi

Thomas D'Innocenzi is a highly accomplished, results-focused senior international executive with extensive experience in global sourcing and market development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global sourcing operations worldwide. Extensive experience in international market development operations to accommodate rapid growth. Skilled in building top-performing teams, benchmarking performance, and restricting organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. As principal of Nova Advisors, LLC I’ve assembled an exemplary team that brings with them the knowledge and experience gained from starting up a Global Sourcing program with multiple Fortune 500 companies as well as the largest supplier network throughout the Asia-Pacific region. We have experience and expertise in more than a thousand medical and pharmaceutical products in manufacturing and sourcing at the best value. The right product, the right price point and the right branding fueled these successes that resulted in double-digit growth for top line sales and bottom line net margins for our customers. What sets us apart: • Our reach includes a large network of suppliers & manufacturers spanning 13 countries in Asia-Pacific region • We understand the manufacturing process and the business of the supplier and the buyer • Our company culture is based on quality assurance and our process is based on local quality control Our commitment is to be your partner offering the best products and services at the lowest cost. Contact me to discuss how we can make the global marketplace work for you. thomas@novaadvisors.com In addition, I am open to discussing opportunities in global sourcing, international marketing & sales, logistics and medical/pharma in Thailand, Vietnam, Malaysia, Philippines & Japan. Aside from my work I enjoy piano, astronomy, physics, and assisting my daughters with their studies. SPECIALTIES: Global Sourcing, Supply Chain Management, Business Development, Marketing, Logistics, Global Networking, Market Development, Healthcare Solutions, Pharmaceuticals, Medical Devices, Technology, Asia, Southeast Asia, US and Canada
This entry was posted in Business, Economy, Global Sourcing and tagged , , , , , , , , , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s