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.
Tyre 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 of 2018, according to the municipal Statistics Office.
The electronic sector reported the largest growth rate, at 18.28 percent, as it has a stable consumer market and more businesses in the industry have applied advanced technologies.
The increase was also attributed to the efficiency of the city’s Integrated Circuit Industrial Development Programme.
With a growth rate of 9.05 percent, the mechanical sector followed close behind the electronic sector.
For the mechanical sector in particular and the supporting industry in general, the Ho Chi Minh City Centre for Supporting Industries Development (CSID) has worked to hold activities to connect and assist enterprises in stepping up production innovation to increase the quality of products, expand their markets and participate in value chains.
In recent times, the city has also focused on addressing difficulties for businesses by intensifying administrative reform and improving the business and investment environment.-VNA
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