Trading economics malaysia

Kuala Lumpur (VNA) – Malaysia’s services revenue grew 25.2% year-on-year to 506.5 billion MYR (113.64 billion USD) in the second quarter of 2022, the Department of Statistics Malaysia (DoSM) said. According to the office, this was contributed by the wholesale and retail trade, food and beverages and accommodation segment which saw revenue went up 26.1% y-o-y to 409.3 billion MYR while the information and communication and transportation and storage segment revenue edged up 21.3% to 72.2 billion MYR. The health, education and arts, entertainment and recreation segment revenue grew 24.4% to 15.1 billion MYR and professional and real estate agent segment revenue went up 20% to 9.9 billion MYR. On a quarterly basis, the total revenue of the services sector grew 7.1% or 33.8 billion MYR. The total number of persons engaged in the sector rose 4.9% or 177,600 persons to 3.8 million persons as compared with the corresponding period of the previous year. DoSM said salaries … [Read more...] about Malaysia: Services revenue surges in Q2

The two-way trade between Vietnam and South Korea may amount to US$100 billion this year, instead of 2023 as previously targeted, said South Korean Consul General in Vietnam’s Da Nang City Ahn Min Sik. The South Korean diplomat released his ambitious expectation after reviewing the bilateral trade result of $45 billion in the first half of this year at a seminar held in the central metropolis on Friday. The event, themed “The history of exchanges between and future prospects of the Vietnam - South Korea relationship,” was part of the celebration of the 30-year anniversary of the diplomatic relations between the two countries. Despite the heavy impacts of the COVID-19 pandemic, both countries gained a two-way trade value of $80.6 billion in 2021, much higher than the $500 million recorded 30 years ago, Consul General Ahn said. Considering the ongoing trade growth trend, as shown in the first six months of this year, the bilateral turnover may reach $100 billion in 2022, instead … [Read more...] about Vietnam – S.Korea trade likely reaches $100bn this year: Consul General

A strong business community will build an independent and highly resilient economy. Localities are expected to further create a favorable environment for business operation, especially in simplifying administrative formalities and avoiding petty corruption. Prime Minister Pham Minh Chinh at the conference. Photos: Nhat Bac Prime Minister Pham Minh Chinh stressed the view during a conference between the Government’s leader and business community on August 11, which drew the participation of 1,200 delegates from a business association and local companies. According to Chinh, more than two years since the outbreak of the Covid-19 pandemic, Vietnam has now put the situation under control and maintained positive growth. Vietnam’s GDP  during the six months expanded by 6.42%, higher than the 5.74% rate in the same period last year, and equivalent to the growth rate recorded in the pre-pandemic period 2016-2019 (6.38%). In addition, Chinh also pointed out high … [Read more...] about PM urges favorable environment for businesses

At the conference on August 11, MPI Minister Dung said that thanks to the control of the pandemic and the maintenance of macroeconomic stability, the business sector has reported a positive recovery recently. As of July, the whole country had about 871,000 operating enterprises with tax incurred, an increase of nearly 13 per cent compared to 2021. In the first seven months of 2022, the number of enterprises entering and returning to the market, as well as additionally registered capital into the economy, increased sharply. The number of enterprises entering and re-entering the market was over 130,000 enterprises, an increase of 26.8 per cent on-year, 1.4 times higher than the number of enterprises withdrawing from the market. The total registered capital added to the economy in the first seven months of 2022 reached over $143 billion, an increase of over 37 per cent on-year. According to reports from business associations, the market has recovered over 75-85 per cent compared … [Read more...] about Utilising every opportunity to grow and overcome challenges

The study found that 61 per cent of the surveyed businesses plan to increase their headcounts, while 27 per cent will maintain their workforce. Manufacturing and processing to account for the strongest recruitment Manufacturing and processing toped the industries planning to increase recruitment within the next six months with 19 per cent, followed by wholesale, retail, and trading (12.7 per cent), professional consulting services (9.5 per cent), banking and finance (9.5 per cent), construction (6.4 per cent), food and beverage, hospitality, and leisure (6.4 per cent), and real estate (6.4 per cent). Vietnam's hiring intentions for H2/2022 The most in-demand job levels include executive and junior levels (49 per cent). The runners-up are blue-collar workers (24 per cent), senior management (18 per cent), C-suite (5 per cent), and fresh graduates without experience (4 per cent). The survey also reveals that over 70 per cent of the surveyed companies have … [Read more...] about Employers expect hiring to increase in H2

Vietnam is willing to hold trade talks with the United States to timely solve arising problems regarding a U.S. anti-circumvention investigation into steel pipe products imported from the Southeast Asian country. Le Thi Thu Hang, spokesperson of the Vietnamese Ministry of Foreign Affairs, made the statement at a regular press briefing in Hanoi on Thursday following reports that the U.S. officially initiated an investigation into the case. Hang affirmed that the Vietnam-U.S. comprehensive partnership has witnessed progress in all fields in recent times, including in economy, trade, and investment. Vietnam is the leading trade partner of the U.S. in Southeast Asia, while the U.S. is the second-largest trade partner of Vietnam, with two-way trade turnover exceeding US$110 billion in 2021. “Vietnam advocates promoting economic, trade, and investment cooperation with the U.S. on the basis of freedom, fairness, and mutual benefits in accordance with bilateral agreements and … [Read more...] about Vietnam ready for talks with US on tax evasion investigation into Vietnamese steel pipes