Industrial growth soars in first four months
Industrial growth soars in first four months
Viet Nam’s industrial production index (IPI) retained a significant 11.4 per cent growth rate in the first four months of this year, much higher than the 6.6 per cent increase in the same period last year.
The period’s strong IIP rise was attributed to the fact that many industrial firms have taken advantage of the State policies in cutting off business conditions and speeding up administrative reforms to expand their operations as well as markets for their products, according to the General Statistics Office (GSO).
In the January-April period, the manufacturing and processing sector, which accounts for nearly 80 per cent of overall industrial value, saw the strongest growth with 14 per cent, compared to 9.5 per cent in last year’s corresponding period, GSO said.
Meanwhile, electricity production and distribution increased 9.7 per cent, and water supply and wastewater treatment went up 5.5 per cent. The mining sector witnessed a modest decline of 1.2 per cent.
Areas posting high production growth include electronics, computers and optical products at 27 per cent, metal at 16.3 per cent, furniture production at 15 per cent and pharmaceuticals at 14 per cent. Surges were also recorded in major industrial products such as iron and steel (38.2 per cent), fabric (26.2 per cent), powdered milk (21 per cent), feed for aquaculture (19 per cent), television (18 per cent), and processed seafood products (12 per cent).
Several other areas, however, saw industrial production reduce, including crude oil (9.4 per cent), urea fertiliser (4 per cent), animal feed (2 per cent) and milk (1 per cent). The northern province of Bac Ninh led the nation with an IPI growth of 34 per cent, followed by Hai Phong (24 per cent), Vinh Phuc (14 per cent) and Thai Nguyen (12.1 per cent).
Others with positive IIP increases were Hai Duong (11 per cent), Ha Noi and Dong Nai (8.1 per cent), Da Nang (8 per cent), Binh Duong (7.9 per cent), Can Tho (7.3 per cent), Quang Ninh (6.5 per cent), and HCM City (6.1 per cent).
As of April 1, the number of workers in industrial enterprises increased 3.9 per cent compared to the same period last year. The number of workers in State-owned enterprises dropped 1.1 per cent, while those in non-State and foreign-invested businesses went up 4.3 per cent and 4.5 per cent, respectively.
The number of workers in provinces and cities with large-scale industry also saw increases, such as Can Tho (23 per cent), Hai Phong (16.3 per cent), and Bac Ninh (14 per cent), as well as Thai Nguyen (8 per cent), Binh Duong (7 per cent) and Dong Nai (5.3 per cent).
