HCM City’s industrial production index rises 15.04 pct in January (Illustrative image. Source VNA)
HCM City (VNA) – Ho Chi Minh City’sindustrial production index (IIP) in January 2018 rose 15.04 percent comparedto the same period last year.
The outcome was attributed to the city’simplementation of policies and programmes to support businesses to invest inthe field of industry and supporting industry, according to the municipalPeople’s Committee.
As this year’s traditional Lunar New Year fallsin February, enterprises have proactively mapped out plans for goods productionand storage since December 2017 to ensure sufficient supply during the holiday.
Four key industries, namely mechanicalmanufacturing, electronics, chemicals-rubber-plastic, and food processing,continued to expand markets and increase investments in new equipment toproduce high-quality and competitive products. The move helped the industriesto record an annual growth of 19.6 percent, higher than the average level ofthe whole industrial sector.
Particularly, the food processing industryrecorded year-on-year growth of 29 percent while the electronics-informationtechnology sector rose by 22.85 percent.
Director of the municipal Department of Planningand Investment Su Ngoc Anh said the rapid technological development helped theelectronics industry create more products at competitive prices.
Some enterprises in the city are providing spareparts for the RoK’s Samsung Company, he said.
In February, the municipal Department of Industryand Trade will continue coordinating with relevant agencies to preventcounterfeit and low-quality products.-VNA
The significant socio-economic-cultural accomplishments that the southern economic hub of Ho Chi Minh City gained in 2017 will create a firm foundation for its stronger development in 2018 and the following years.
Industrial production of Ho Chi Minh City is forecast to see stable growth in 2018, with the index of industrial production index (IIP) to expand by 8-8.5 percent year-on-year.
Ho Chi Minh City’s industrial production was forecast to maintain steady growth in 2018 with the industrial production index (IIP) to rise about 8-8.5 percent against last year.
The Index of Industrial Production (IIP) in January surged 20.9 percent from the same period of 2017, boosted by the Lunar New Year festival (Tet) not coinciding with the month and businesses’ production enhancement to serve soaring pre-Tet demand.
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HCM City’s industrial production index rises 15.04 pct in January (Illustrative image. Source VNA) 
