A sport shoes production plant in Bà Rịa - Vũng Tàu Province. Over 42 per cent of 30,587 enterprises in the processing-manufacturing sector expect their business performance in the fourth quarter of 2024 to be better than Q3, survey by the General Statistics Office showed. — VNA/VNS Photo Vũ Sinh
Over 42 per cent of nearly 30,590 enterprises in the processing-manufacturing sector that joined a recent quarterly survey by the General Statistics Office (GSO) expect their business performance in the fourth quarter of 2024 to be better than Q3.
Meanwhile, 40.4 per cent of the surveyed enterprises said their business will remain stable and the remaining 17.4 per cent of the firms foresee more difficulties.
Indicators such as new orders, employment and production outputs are also forecast to grow in the fourth quarter.
Specifically, production outputs are expected to increase to 25.4 per cent from the growth of 14.8 per cent in the third quarter, indicating a strong recovery for the sector.
Businesses are also optimistic about the possibility of increasing new orders with an expected average increase of 24.3 per cent against the 10.7 per cent increase in the third quarter.
As many as 40.5 per cent of businesses expect an increase in orders; 43.3 per cent expect stable numbers and 16.2 per cent forecast a decrease in orders.
Regarding export orders, 36 per cent of businesses expect an increase in new orders; 47.6 per cent predict a stability and 16.4 per cent anticipate a decrease.
Businesses with foreign direct investment (FDI) are forecast to achieve the most positive results, with the highest expected increase in production volume and new orders.
However, seeing current challenges, enterprises in the processing and manufacturing sector have called for support from the Government and management agencies.
Specifically, 43.4 per cent of the enterprises recommended the Government continue to reduce lending interest rates so that enterprises can access capital for production and business.
Regarding raw materials and energy for production, 33.9 per cent of the enterprises recommended the Government to issue policies to stabilise prices of raw materials and energy, and 25.4 per cent suggested that the Government, ministries, agencies and localities take measures to stabilise the supply of raw materials for production.
Over 15 per cent of the enterprises proposed the Government support enterprises in training and improving workers' skills to meet new requirements in production.
In addition, 20.5 per cent of the enterprises suggested improving the quality of logistics services; 19.6 per cent said land rents should be reduced for production and business; and 17 per cent asked for stable power supply for production.
To increase the number of orders, 21.4 per cent of the enterprises recommended the Government to continue taking measures to stimulate domestic demand. Meanwhile, 20.9 per cent of the businesses suggested the Government, ministries, agencies and localities step up trade promotion, find new markets and new partners to support businesses in domestic and foreign markets.
The GSO survey also pointed out difficulties of businesses, including low demand in the domestic market, increasing competition and incomplete recovery of international markets. — VNS