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HCM City’s industrial production grows 8.15 percent this year

Ho Chi Minh City has sustained expansion in industrial activities in 2018, thus recording an estimated 8.15-percent rise in the Index of Industrial Production (IIP) from last year.
HCM City’s industrial production grows 8.15 percent this year ảnh 1An electronic component factory of the Japanese-invested Nidec Sankyo Vietnam Co. Ltd in the Saigon Hi-tech Park, HCM City (Photo: VNA)

HCM City (VNA) – Ho Chi MinhCity has sustained expansion in industrial activities in 2018, thus recordingan estimated 8.15-percent rise in the Index of Industrial Production (IIP) fromlast year.

The municipal Department of Industry andTrade released the figure at a meeting on December 27, noting that the IIPgrowth rate met the target of 8 – 8.5 percent set for this year.

It said the city aims at an IIP pace of 8 –8.2 percent for 2019, with the figure in the four key industries (mechanics;food processing; chemicals, plastics and rubber; and electronics andinformation technology) targeted at 8.2 – 8.4 percent.

Meanwhile, goods retail sales and servicesrevenue surpassed 1.04 quadrillion VND (44.72 billion USD) this year, up 13.2percent from the previous year.

HCM City looks to raise this figure by 12percent in 2019, helping to boost the total goods retail sales and servicesrevenue to nearly 1.12 quadrillion VND by 2020.

To that end, the Industry and TradeDepartment will work more closely with local business associations and relevantagencies to build cooperation plans for 2019 and 2020. It will adviseauthorities about support policies for key industrial products to serve as thedriving force for the whole industrial sector.

Notably, the department will focus onsolutions relating to space for business and production activities, capitalaccess, science-technology, manpower training, trade promotion and brandbuilding, said Director of the department Pham Thanh Kien.

Regarding the wholesale and retail salemarket development, the department will push on with the supply-demandconnection programme between HCM City and other localities. More optimalconditions will be created for local enterprises to expand production anddistribution activities.

The programme to ensure stable prices andsupply-demand balance will also continue, while businesses will be encouragedto improve product quality, Kien said. –VNA
VNA
#HCM City’s industrial production #HCM City's Index of Industrial Production #IIP growth rate of HCM City #key industries of HCM City #goods retail sales and services revenue in HCM City #updated Vietnam news #Vietnamplus #Vietnam News Agency Ho Chi Minh City
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