The index of industrial production (IIP) in Ho Chi Minh City picked up 6.05 percent year-on-year in the first quarter of this year.
(Photo: VNA)

HCM City (VNA) – The index of industrial production (IIP) in Ho Chi Minh City picked up 6.05 percent year-on-year in the first quarter of this year.

The figure in March rose 42.1 percent against the previous month and 7.07 percent against the same time last year.

Director of the municipal Department of Industry and Trade Pham Thanh Kien attributed the IIP growth to the city’s programmes and policies to support the development of local industry and support industry.

Output of the four key industrial sectors: manufacturing, electronics, chemicals-rubber-plastic and food processing experienced a year-on-year growth of 6.79 percent thanks to market expansion, renovation of equipment as well as improvement in the products’ quality and competitive capacity.

Particularly, significant hike was seen in the electronics - information and technology sector with 16.91 percent, he said.

Director of the municipal Department of Planning and Investment Su Ngoc Anh said that the IIP surge was spurred by thorough preparations of materials, markets and stable production.

In the first three months of the year, Ho Chi Minh City paid due attention to attracting investment from large enterprises and carrying out research activities to support the investors. Investment promotion was accompanied with infrastructure development and environment protection as well.

Production value at high-tech parks in the city was calculated at 3.02 billion USD, up 24.5 percent from the same time last year. Meanwhile, export value surged 18.5 percent year-on-year to 2.6 billion USD. -VNA