Vietnam’s trade confidence index hits 3-year high

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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

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About thomasdinnocenzi

Thomas D’Innocenzi is a highly accomplished, results-focused international consultant with extensive experience in global sourcing and business development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global marketing and sourcing operations. He has extensive experience in international business development to accommodate rapid growth. Skilled in building top-performing teams, bench-marking performance, and developing organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. Tom founded Nova Advisors with the mission of providing expert Global Business Development consulting services for companies seeking to expand their market share as an independent consultant. Tom has a network of experts and advisors throughout the Asia-Pacific region and North America. His expertise includes business development, global sourcing, manufacturing, commodities, logistics, QA/QC, FDA, regulatory compliance, sustainability, and supply chain optimization. Tom is experienced in the medical device, apparel, consumer goods and technology services verticals helping companies advance their global sourcing capabilities and develop new markets through a local and sustained approach. Located in SE Asia and the United States, Tom expands market reach to drive sales. His global sourcing strategy includes directly negotiating with commodity suppliers, supply chain networks and distributors for optimal terms based on his expertise and first-hand knowledge of the players. Contact Tom to use his consulting service to increase your global market and make global sourcing profitable for you in the Asia Pacific Region and the United States. http://www.NovaAdvisors.com thomas@NovaAdvisors.com USA Direct: +1.904.479.3600 SINGAPORE: +65.6818.6396 THAILAND: +662.207.9269
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