Illustrative image (Source: VNA)
HCM City (VNA) – Ho Chi Minh City’s industrial development index in the first half of this year expanded 7.5 percent year-on-year, the highest rise in the past five years, reported the municipal People’s Committee.

The growth is fuelled by mechanical engineering-manufacturing, electronics, chemical-rubber-plastic and food processing sectors, which rose 9.72 percent, higher than the average figure.

Specifically, the mechanical engineering-manufacturing expanded 17.5 percent as compared to the same period last year thanks to the use of modern and competitive equipment.  

Meanwhile, the electronics and information technology sector grew 12.4 percent, and the food processing up 4.9 percent.

Pham Thanh Kien, Director of the municipal Department of Industry and Trade, attributed the growth to the city’s industrial development policy, including providing financial assistance, forming connectivity between supporting industry and manufacturing firms, and attracting investment in industrial parks and clusters.

The city has also built a database on the supporting industry, particularly those regarding mechanical engineering enterprises.
The city’s total electricity consumption during the period was estimated at 11.6 billion kWh, up 2.86 percent year-on-year. Up to 205.6 million kWh were saved, or 57.11 percent of the target.

HCM City-based businesses’ export value reached 4.6 billion USD, up 79.6 percent while imports hit 4.15 billion USD, marking a 69.2 percent increase.-VNA