HCM City sees surge in industrial production

HCM City sees surge in industrial production

HCM City's Industrial Production Index rose by 1.1 per cent in January from the previous month and 30.4 per cent from a year earlier, reflecting positive industrial growth and stable production.

The IIP also showed that the city’s four key industries expanded by 34.7 per cent year-on-year, 4.3 percentage points higher than overall industrial growth.

It included a 58.7 per cent rise in pharmaceuticals and chemicals, 28.3 per cent in food processing, 27.4 per cent in mechanical engineering, and 17.9 per cent in electronics manufacturing.

Other sectors with high growth included printing and reproduction of recorded media (80.1 per cent), non-metallic mineral products (57.3 per cent) and rubber and plastic products (50.7 per cent).

A spokesperson for the city Department of Industry and Trade said the rise in the IIP was due to a recovery in both export orders and domestic consumption.

Besides, the city supported the business and investment environment, and helped resolve difficulties in procedures and credit, they added.

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