A survey by the General Statistics Office has revealed that that 52 per cent of firms operating the domestic processing and manufacturing sector expect business to improve in the third quarter of this year.

In addition, nearly 36 per cent foresaw stable business while only 12 per cent forecast local business would be weaker.

Ha Quang Tuyen, Director of the GSO’s National Account Department, said that business optimism would be one of major drivers for economic growth in the second half of this year.

“We have opportunities and advantages to achieve the GDP growth target of 6.7 per cent this year,” Tuyen said.

He cited statistics showing that there were more than 61,000 new firms established in the first half of this year, with a total registered capital of VND596 trillion (US$26.14 billion), representing a rise of 12.5 per cent and 39.4 per cent over the same period last year, respectively.

Tuyen said that new firms would be a significant growth resource.

Findings also forecast that trends in production and business would follow a stable, upward third quarter trend. Statistics showed that 53.4 per cent expect increases in production and 47.7 per cent anticipate increases in new orders in the third quarter.

Only 10.6 per cent predicted decreases in production and 11.2 per cent anticipated decreases in new orders.

During the past four years, Viet Nam has strived to improve the business environment and the national competitiveness with the issuance of the Resolution 19. — VNS