The industrial production index (IPI) of Hanoi in the first five months of this year expanded 7.7 percent year-on-year (Photo: VNA)

Hanoi (VNA) – The industrial production index (IPI) of Hanoi in the first five months of this year expanded 7.7 percent year-on-year, the municipal People’s Committee reported.

In May alone, the index rose by 6.1 percent compared to the previous month, and 8.9 percent year-on-year.

In the five-month period, furniture manufacturing recorded the highest growth of 139.6 percent. It was followed by the production of clothes and food processing with respective increases of 35.5 percent and 22.8 percent.

The surging index was also contributed by a significant growth in the manufacturing of transport means (21.2 percent), metal (18.6 percent) and medicine (17.2 percent).

Based on the satisfactory IPI released recently, the municipal People’s Committee has forecast that the city’s industrial production is likely to reach stable growth in the near future.

The city has devised strategies with the aim of promoting growth in many sectors. It has also simplified administrative procedures, and developed preferential policies to attract more investment, with the hope to make the city’s potential market attractive to large investors.

An investment promotion conference is scheduled to be held early next month, towards calling for more investment in the city.-VNA