Illustrative image (Source: VNA) The index in the first quarter of this year rose 1 percent,with processing and manufacturing up 0.4 percent; power production anddistribution up 3.3 percent; and water supply and waste treatment up 4.2percent.
The business community in the southern economic hub expectsto utilise this growth to continue the stable recovery and development of industrialproduction.
Phan Minh Thong, Chairman of Phuc Sinh Group, pointed out thechallenges facing domestic enterprises, including fierce competition from e-commerceplatforms.
As a solution, he suggested Vietnamese enterprises diversifytheir export markets to bring into full play IIP growth.
Le Huynh Minh Tu, Deputy Director of the HCM City Departmentof Industry and Trade, said his department plans to organise meetings,consultations, experience exchanges and cooperation programmes withassociations and businesses at home and abroad.
It will also focus on trade and investment promotions across a range of markets andgroups of commodities to facilitate Vietnam’s accession to global value chains,while boosting cooperation in areas such as the digital economy, e-commerce,logistics and industry.
Statistics showed that between January 1 and March 13, 2022,HCM City licensed 8,477 firms with total registered capitalof over 140.3 trillion VND (6.14 billion USD), up 34.5 percent in volumebut down 5.7 percent in capital.
Of the businesses, 993 were in the industrial sector, withcombined capital of 30.7 trillion VND, down 44.1 percent year-on-year./.
VNA
