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HCMC’s IIP rose the highest in five years

Update: November, 09/2017 - 13:00
Production of electronics parts in Mtex Việt Nam Co, Ltd in HCM City. The city’s IIP in the first 10 months recorded the highest year-on-year growth at 7.75 per cent. VNA/VNS Photo Thanh Vũ
Viet Nam News

HCM CITY – The industrial production index (IIP) of HCM City in the first 10 months recorded the highest year-on-year growth at 7.75 per cent over the past five years.

The HCM City Department of Industry and Trade said the city’s IIP in the last two months of 2017 will increase sharply over the previous months and the IIP in 2017 may increase about 8.4 per cent in comparison with the IIP in 2016.

The manufacturing industry will continue to be the engine for growth of the municipal industry because it has now accounted for 75 per cent of the total production value in HCM City.

In terms of industry structure, the department said four major industries, food processing, chemicals - rubber, mechanics and electronics - information technology saw a year-on-year increase of 12.67 per cent in the first 10 months, higher than the average growth rate of the IIP in HCM City.

Nguyễn Phương Đông, deputy director of the HCM City Department of Industry and Trade, said the department had offered support to local industrial enterprises in accessing preferential capital, improving competitiveness, expanding the market, and connecting with foreign direct investment (FDI) enterprises.

In December, the Support Industry Development Centre under the Department of Industry and Trade would organise an event to hunt for suppliers in the support industry 2017, he said.

"This is an opportunity for local industrial enterprises to find suppliers and connect with domestic enterprises, FDI enterprises and end-user enterprises in the fields of electronics and mechanical engineering of automobiles, motorcycles and trucks," he said. - VNS


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