Business

HCM City: nine-month industrial production grows by 7.89 percent

Ho Chi Minh City’s Index of Industrial Production (IIP) enjoyed a year-on-year rise of 7.89 percent in the first nine months of 2018, according to the municipal Statistics Office.
HCM City: nine-month industrial production grows by 7.89 percent ảnh 1Tyre production chain in Casumina Hoc Mon factory (Source: VNA)

Hanoi (VNA) – Ho Chi Minh City’s Index of Industrial Production(IIP) enjoyed a year-on-year rise of 7.89 percent in the first nine months of2018, according to the municipal Statistics Office.

The electronic sector reported the largest growthrate, at 18.28 percent, as it has a stable consumer market and more businessesin the industry have applied advanced technologies.

The increase was also attributed to the efficiencyof the city’s Integrated Circuit Industrial Development Programme.

With a growth rate of 9.05 percent, themechanical sector followed close behind the electronic sector.

For the mechanical sector in particular andthe supporting industry in general, the Ho Chi Minh City Centre for SupportingIndustries Development (CSID) has worked to hold activities to connect andassist enterprises in stepping up production innovation to increase the qualityof products, expand their markets and participate in value chains.

In recent times, the city has also focusedon addressing difficulties for businesses by intensifying administrative reformand improving the business and investment environment.-VNA
VNA
#Ho Chi Minh City #Index of Industrial Production #IIP #electronic sector #mechanical sector #Vietnam #Vietnamplus #Vietnam News Agency Ho Chi Minh City
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