Industrial production continues rise
Industrial production continues rise
The country's index of industrial production (IIP) in the first half of this year increased 9.6 per cent year-on-year, the General Statistics Office (GSO) said.
This is the fourth consecutive increase in production this year, following a 9.1 per cent increase in the first quarter, a 9.4 per cent rise in the first four months and 9.2 per cent in five months.
The positive growth was spurred by processing and manufacturing industries, which expanded by 9.95 per cent on-year, said head of GSO Nguyen Bich Lam.
Industries that posted IIP rises included motorised vehicles with 28.7 per cent, textiles and garments (23.2 per cent), leather and leather-made products (21.3 per cent) and electronics and computers (21.1 per cent).
Other industries recording industrial production hikes in the January-June period were rubber and plastic products (12.6 per cent); electricity production and distribution (11.2 per cent) and paper products (10.3 per cent).
Rises were more significant for mobile phones, which rose 68.8 per cent, automobiles (57.6 per cent), television (40.3 per cent), steel (18.2 per cent), animal feed (16.3 per cent) and cement (10.5 per cent).
According to Lam, the improved domestic business environment encouraged more new businesses to enter the market. That resulted in a 12.3-per-cent yearly rise in the consumption index in five months, higher than the 9-per-cent increase in the same period last year.
Up to 45,406 new firms were established with a total registered capital of VND282.4 trillion (more than US$13.13 billion) from January-June, a 21.7 per cent increase.
There was also a 22.3 per cent in the level of registered capital.
