National industrial production rises 5.1% in 4 months Print
Friday, 05 May 2017 10:01

VIETRADE  The national index of industrial production (IIP) surged 7.4% in April, the General Statistics Office (GSO)’s latest report has revealed.


According to the report, the mining sector’s IIP in April saw a drop of 5.6%, while that of the processing and manufacturing industry rose 11.1%, the electricity production and distribution sector was up 9.9%, and water supply and waste treatment sector rose 6.5%.

In the first four months of this year, the index increased 5.1% year on year, much below the growth seen in the same time of 2016 but higher than the rise of 4.2% in the first quarter of 2017.

During the reviewed period, electricity production and distribution sector recorded the highest production growth of 9.3%, followed by the processing and manufacturing sector with 9.2% and the water supply and waste treatment industry with 6.3%. Meanwhile, production of mining industry fell 9.7%.

Among sectors enjoying a surge in the IIP included metal production (47.5%), metal product manufacturing (13.3%), weaving (12.5%) and engine vehicles (10.9%).

Others, meanwhile, posting slight IIP rises were food production and processing at 6.4%, medicine and pharmaceutical chemistry (4.5%), and electronics, computer and optical product manufacturing (4.2%).

From January to April, the northern city of Hai Phong led the country in the IIP growth with 20.4%. It was followed by Thai Nguyen (17.7%), Da Nang (12.1%), Hai Duong (9%), Binh Duong (8%) beside to Dong Nai (7.4%), Ho Chi Minh City (7.1%) and Hanoi (5.9%).

The GSO also revealed that the inventory index of the processing and manufacturing as of April 1 increased by 12.7% compared to same time last year.

Sectors with higher inventory included engine vehicle at 158.9%, metal production (54.5%), beverage (45.4%), non-metal product (39.7%), and paper production (32.8%).

 

Earlier, the Ministry of Industry and Trade expected the country’s industrial production index to grow by 8-9% this year.

 

In order to reach the goal, the ministry would step up the restructuring of the industry towards enhancing the development of the processing and manufacturing sector while reducing the outwork and assembly of made-in-Vietnam industrial products.

 

Apart from removing a number of complicated administrative procedures, the ministry would improve the business environment to create the best conditions for enterprises to develop.

 

In his speech at a conference in Hanoi on March, Deputy Minister of Industry and Trade Do Thang Hai emphasized the importance of promoting the application of new technologies, facilitating labor restructuring, improving the quality of industrial human resources and diversifying financial resources for industrial development.

 

Vietnam should also continue to update its mechanisms and policies to create a favorable environment for attracting investment in industries, he said.

Between 2006 and 2015, the country’s total industrial production value rose 3.42 times, while the industrial portion of the GDP remained stable at 31-32%./.



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