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Vietnam''s manufacturing is on a steady uptick fueled by its young population and cheaper wages
If you thought Asia''s manufacturing giants are just China, South Korea and Thailand, say hello to a new one: Vietnam. Its benchmark purchasing managers'' index for manufacturing has expanded -- a reading above 50 -- every month since Aug. 2013, according to HSBC and Markit Economics.
The Esquel Group garment factory at the Vietnam-Singapore Industrial Park kết quả xổ số miền trung hôm nay Thuan An, Binh Duong province, Vietnam
That feat is unmatched by any other Asian country that HSBC and Markit track. By contrast, China''s manufacturing PMI has contracted kết quả xổ số miền trung hôm nay eight months kết quả xổ số miền trung hôm nay that same period. Thailand''s , as measured by the government, contracted for 22 months through January.
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"Central to the latest improvement kết quả xổ số miền trung hôm nay business conditions were further rises kết quả xổ số miền trung hôm nay both output and new orders," HSBC and Markit said kết quả xổ số miền trung hôm nay a note accompanying the release of Vietnam''s March data. Vietnamese firms were able to secure more new orders from both domestic and export clients and "falling commodity prices kết quả xổ số miền trung hôm nay world markets continued to feed through to lower input costs," said Andrew Harker, senior economist at Markit.
Vietnam last year became the exporter to the U.S. among the 10 Association of Southeast Asian Nations, or Asean. And with its strategic location, younger population and lower costs than China, it has drawn the likes of Samsung Electronics, Intel and Siemens, besides apparel and shoe makers.
kết quả xổ số miền trung hôm nay Vietnam''s favor, wages are still low, with the average monthly wage at $197 kết quả xổ số miền trung hôm nay 2013, compared with $391 for Thailand and $613 for China, according to the International Labour Organization. Its population is younger: only about 6 percent is above the age of 65, compared with about 10 percent kết quả xổ số miền trung hôm nay China and Thailand and almost 13 percent kết quả xổ số miền trung hôm nay South Korea.
Of course, much of Vietnam''s work now is kết quả xổ số miền trung hôm nay low-end manufacturing kết quả xổ số miền trung hôm nay textiles, garments, furniture and electronics. That may change, as companies invest kết quả xổ số miền trung hôm nay training and R&D. What has raised some questions is worker unrest. Thousands of workers at a Ho Chi Minh City factory work this week over a government pension change, the worst labor unrest since last May’s anti-China that led to factory closures. It may be the one wrinkle kết quả xổ số miền trung hôm nay Vietnam''s rise to manufacturing greatness.
Theo