HCM City’s IIP edges down 14.3 percent last year hinh anh 1Illustrative photo. (Source: VNA)
HCM City (VNA) – Ho Chi Minh City’s Industrial Production Index (IIP) in 2021 declined 14.3 percent though the figure rebound to grow 13.5 percent month-on-month in December, according to the municipal Department of Statistics.

Growth was only reported in three areas of metal production (up 6.5 percent), vehicle manufacturing (2.7 percent), and water treatment and supply (0.7 percent).

The city’s effective COVID-19 containment was attributed to the IIP improvement last month which is expected to smooth the way for further recovery.

Export of goods, inclusive of crude oil, by HCM City’s enterprises via border gates nationwide totalled nearly 43.9 billion USD, down 1 percent from the same period of 2020.

China remained the city’s largest export market with over 9.37 billion USD, down 10.8 percent year-on-year. It was followed by the United States, Japan and the EU.

This year, HCM City eyes a Gross Regional Domestic Product (GRDP) growth of 6 – 6.5 percent, a turnaround from a 6.78-percent contraction caused by COVID-19 impacts last year.

The city will focus on revitalizing its COVID-19-stricken economy in 2022 to create growth momentum for the following year, said Chairman of the municipal People’s Committee Phan Van Mai, adding that enterprises will be placed in the centre of the economic growth./.

VNA