January’s PMI surged to 50.3 from December’s 48.9, marking the manufacturing sector’s first upturn in five months.

This resurgence had been propelled by heightened demand, leading to an uptick in both output and new orders. Gabor Fluit, EuroCham’s Chairman, affirmed Vietnam’s economic recovery’s positive trajectory, emphasising the necessity of innovation, robust trade ties, and enhancing export value through processing.

Advertisement

The CEO of Economica Vietnam, Le Duy Binh, echoed optimism, citing global economic revival, particularly in vital export markets like the US, Japan, China, Australia, and the ASEAN nations.

Despite EU’s lag, strong recoveries elsewhere indicate stable demand growth.

Binh highlighted Vietnam’s sustained macroeconomic stability in 2023, laying a robust foundation for bolstering confidence among domestic and foreign businesses and consumers.

This, coupled with growing interest from foreign investors, particularly in supply chain diversification, suggests a promising outlook for increased foreign and domestic private investment.

Fibre2Fashion News Desk (DR)