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Hải Phòng’s IIP soars at the highest rate ever

Update: September, 25/2018 - 15:00
A plant in Đình Vũ Industrial Zone, Hải Phòng. — VNA Photo
Viet Nam News

HÀ NỘI — The northern port city of Hải Phòng’s index of industrial production (IIP) increased 25.15 per cent over the first nine months of this year compared to the same period in 2017.

This was the highest increase since the index has been tracked and is higher than the city’s target, according to the municipal Department of Industry and Trade.

In September alone, industrial production in Hải Phòng soared by 32.18 per cent over the same month last year.

Increases in industrial production mainly occurred in industries which apply high technologies such as telecommunications equipment (up by 212.4 per cent) and electronics (up by 56.21 per cent).

Prices of goods in the northern city were reported to rise by 4 per cent over the same period last year.

The import-export revenue reached more than US$6 billion, representing a rise of 25.82 per cent.

Hải Phòng is one of the leading destinations for foreign direct investment in Việt Nam.

The city had been focusing on improving the infrastructure system and business climate to attract investments, especially in hi-tech projects such as plants of the RoK’s LG Corporation in Tràng Duệ Industrial Zone, Japan’s Bridgestone’s plant in Đình Vũ Industrial Zone and Vinfast automobile plant of Vingroup.

In 2017, Hải Phòng’s provincial competitive index (PCI) jumped 12 grades to rank ninth among 36 provinces and cities.

The northern port city aims to be among the top three provinces and cities on the PCI. — VNS

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