Vietnam’s PMI highest in nine months
The Hong Kong- Shanghai Banking Cooperation (HSBC) anticipated on May 5 that Vietnam’s manufacturing output will continue to expand in the following months as the Purchasing Managers' Index (PMI) in the country surged to a nine-month high, despite a gloomy scenario in the region.
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Productivity and new export orders also continued to climb in April. Higher recruitment levels reflected a brighter business prospect.
The bank also acknowledged that the possibility of Vietnam’s production recovering presents the country’s success in market expansion in the context of the global trade downturn.
It noted the remarkable outcome came mainly from foreign direct investment (FDI), which has continued to flow to the country in 2016. The Republic of Korea remains Vietnam’s largest investor with registered capital hitting US$2.5 billion in April.
With numerous manufacturing plants to begin operating this year, the bank expects FDI will help Vietnam’s exports increase over 10 percent against the same period last year.
