HCM City’s IIP up 2.1 percent in January – February
Ho Chi Minh City’s Index of Industrial Production (IIP) rose 2.1 percent year-on-year in the first two months of 2022, according to the municipal Department of Statistics.
Illustrative image (Photo: VNA)In February alone, the index increased by 20 percent compared to the same period last year, mainly driven by the industrial production and mining industry which recorded a yearly rise of 3 folds, and a month-on-month surge of 113 percent.
In January – February, the city’s four key industries – mechanics, electronics and information technology, chemistry and rubber, and food processing – picked up 9.0 percent from the same period last year.
The chemistry’s IIP posted a high growth of 35.3 percent, while the mechanical industry saw an increase of 6.2 percent.
Meanwhile, that of food – beverage and electronic industries decreased by 1.5 percent and 13.2 percent, respectively.
A yearly growth of 4.3 percent was also seen in the group of traditional industries in the first two months.
The city’s sales of products of the manufacturing and processing rose by 1 percent year-on-year during the period, while this sector’s inventory grew 15.1 percent compared to the same period last year.
Despite the emergence of new strains of coronavirus, HCM City’s industrial production has gradually recovered and developed in the first months of 2022.
Municipal authorities have taken a series of specific mechanisms and policies to support local businesses and labourers facing difficulties caused by the COVID-19 pandemic./.
You should also see
World economy’s recovery drives Vietnam’s exports
With the recovery of the world market and increasing orders, Vietnam's import and export activities in the first quarter of 2024 prospered and achieved positive results.
See more
Business
Ample room for Quang Ninh to attract FDI
The northeastern province of Quang Ninh has ample room to attract foreign direct investment (FDI) and realise the goal of attracting 3 billion USD in FDI this year and 10 billion USD in the 2020-2025 period.
Business
Long An, Dong Nai introduce strengths in RoK
The southern province of Long An and Dong Nai introduced their investment climate as well as socio-economic development orientations at an investment promotion conference held in the Republic of Korea (RoK) on April 26.
Business
Vietnam makes initial efforts to approach creative industries: CIEM
Vietnam has made initial efforts to approach creative industries and services, particularly a policy framework related to creative economy development, according to a new report released by the Central Institute for Economic Management (CIEM).
Business
HCM City wants to become major partner, customer of NVIDIA: Official
Chairman of the People’s Committee of Ho Chi Minh City Phan Van Mai has told the Vice President of Worldwide AI Initiative at NVIDIA, Keith Strier that the city wants to become a major and good partner and customer of the firm in Vietnam.
Business
Revenue on top five e-commerce platforms jumps 79%
The e-commerce market of Vietnam was robust in the first quarter of this year with total revenue of the top five platforms, including Shopee, TikTok Shop, Lazada, Tiki and Sendo, reaching more than 71 trillion VND (2.79 billion USD), an increase of 79% over the same period last year, according to a recent report by Metric.
