HCM City registers growth in industrial production index hinh anh 1Workers classify products at Vietnam Engine and Agricultural Machinery Corporation (Photo: VNA)

HCM City (VNA) – The Index of Industrial Production (IIP) in Ho Chi Minh City expanded by 7.05 percent in the first seven months of 2016.

Notably, key industrial sectors, including mechanics-manufacturing, electronics, chemical-rubber-plastic and food processing, posted a year-on-year rise of 7.3 percent, higher than the common growth of industry as a whole.

This was attributed to their efforts to expand markets, update new equipment and improve product quality and competitiveness, according to the municipal People’s Committee.

High growth was seen in food and beverages production (14.3 percent), non-metal products (21.3 percent), and machinery and equipment (32.1 percent).

In July alone, the city’s industrial production index rose by 3.1 percent.

During the month, processing and industrial parks focused on drawing hi-tech investment projects and supporting business activities to record 3.16 billion USD in export and 3.17 billion USD in import turnover.

The IIP in the first seven months of last year grew by 6.6 percent.-VNA