The purchasing managers’ index (PMI) rose to 54.7 in May from 51.7 in April, the latest survey from S&P Global showed on Wednesday.

The growth rate was the fastest since April 2021.

A worker at an automotive plant in the northern province of Hai Duong.

There was a sharp increase in output and new orders were recorded while firms increased their purchasing activity and employment.

Business conditions strengthened the most in over a year.

"Vietnamese manufacturers are increasingly able to operate normally as pandemic disruption fades, with May seeing sharp accelerations in growth of output and new orders, in turn boosting employment and purchasing," Andrew Harker, economics director at S&P Global, said.

"There is also growing confidence that firms won't have to contend with Covid-19 issues going forward."

The sustained growth of new orders meant firms continued to hire, driving employment up for the second month running.

Inflation remained elevated however despite showing signs of easing in May, with both input and costs and prices rising at the slowest rate in three months.

Vietnam’s inflation in the first five months hit 2.25 percent against 1.29 percent in the same period last year.

Rises in fuel costs were highlighted by respondents, with surging shipping rates adding to inflationary pressures.

Lockdowns in some key Chinese cities have also affected the sector, as export demand grew softer and deliveries were delayed.

"Firms will therefore hope that business in mainland China can also return to normality soon, providing a further boost to the recovery in Vietnam," Harker said.

The S&P Global Vietnam Manufacturing PMI measures the performance of the manufacturing sector and is derived from a survey of 400 companies.

A PMI reading above 50 indicates expansion in manufacturing from the previous month, while a value of below 50 represents a contraction.

Due attention paid to promoting tourism development and SEA Games 31

(BGO) - The Department of Culture, Sports and Tourism (DCST) has issued document to request departments, localities, business, accommodation facilities, tourism site and complexes in Bac Giang province to enhance communication and promotion of tourism development and the 31st Southeast Asian Games (SEA Games 31).

Bac Giang accelerates industrial development

(BGO) – Tapping the available potentials and advantages, well implementing solutions to improve the business and investment environment, Bac Giang province is now attractive destination for many foreign investors. Besides expanded enterprises, several big investors select Bac Giang to execute new projects and open new prosperity for the province to boost up industrial development.

Dutch businesses wish to cooperate in wind power development in Bac Giang

(BGO) - On the morning of April 21, Vice Chairman of the Bac Giang provincial People's Committee Phan The Tuan had a working session with a delegation from the Dutch Embassy in Vietnam and Pondera Company (Netherlands) to discuss cooperation in the development of clean and renewable energy in the province.

Bac Giang and Binh Phuoc exchange experiences on industrial and human resource development

(BGO) – On April 15, the working delegation from the People’s Committee (PPC) in Binh Phuoc province led by PPC Vice Chairman Huynh Anh Minh visited Bac Giang province and discussed the experiences on realizing Development Project in several fields of industry, human resources, social and worker housing construction. Bac Giang PPC Vice Chairman Phan The Tuan received the delegates.

PPC Chairman Le Anh Duong informs business leaders about provincial development planning

(BGO)- On April 19 morning, the Standing Committee of the provincial Enterprises’ Party Committee organized a symposium for the key leaders in second quarter 2022. Le Anh Duong, Deputy Secretary of the provincial Party Committee, Chairman of the provincial People’s Committee (PPC) attended and delivered some contents at the event.

Source: VnExpress