Business

April industrial production expands 24.1 percent

Vietnam’s index of industrial production (IIP) in April is estimated to rise by 24.1 percent year-on-year, driven by the positive impact of free trade agreements (FTA), according to the General Statistics Office.
April industrial production expands 24.1 percent ảnh 1Vietnam's April industrial production increases by 24.1 percent (Photo: VNA)
Hanoi (VNA) – Vietnam’s index of industrial production (IIP) in April isestimated to rise by 24.1 percent year-on-year, driven by the positive impact of free trade agreements (FTA), according to the General Statistics Office.
The IIP in the first four months of 2021 enjoyed a year-on-year increase of 10 percent, boostedby the growth of manufacturing and processing (12.7 percent), electricityproduction and supply (6.6 percent), and water supply and waste and wastewatertreatment (7.5 percent).

Key industries that recorded high increases include metal production (37.9percent), motorised vehicle production (32.9 percent), and furniture production(17.6 percent).

On the contrary, the mining sector posted a decrease of 5.7 percent against thesame period last year.

The number of labourers working in industries as of April 1rose by 1.5 percent month-on-month, and 1.8 percent year-on-year.

To address inventory and promote production, in the comingtime, the Ministry of Planning and Investment proposes localities continuereforming administrative procedures, simplifying specialised inspectionprocedures, and at the same time, implementing the Prime Minister’s Decision approvingthe Action Plan on improving competitiveness and developing logistics services.

Sectors are advised to focus on supporting the developmentof the domestic markets, studying consumption stimulus policies forlocally-made products, and developing supporting industries./.
VNA
#Vietnam #index of industrial production #IIP #positive impact #free trade agreements #General Statistics Office #Vietnamplus #Vietnam News Agency
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