HCM City’s industrial production index rises 15.04 pct in January (Illustrative image. Source VNA)

HCM City (VNA)
– Ho Chi Minh City’s industrial production index (IIP) in January 2018 rose 15.04 percent compared to the same period last year.

The outcome was attributed to the city’s implementation of policies and programmes to support businesses to invest in the field of industry and supporting industry, according to the municipal People’s Committee.

As this year’s traditional Lunar New Year falls in February, enterprises have proactively mapped out plans for goods production and storage since December 2017 to ensure sufficient supply during the holiday. 

Four key industries, namely mechanical manufacturing, electronics, chemicals-rubber-plastic, and food processing, continued to expand markets and increase investments in new equipment to produce high-quality and competitive products. The move helped the industries to record an annual growth of 19.6 percent, higher than the average level of the whole industrial sector.

Particularly, the food processing industry recorded year-on-year growth of 29 percent while the electronics-information technology sector rose by 22.85 percent.

Director of the municipal Department of Planning and Investment Su Ngoc Anh said the rapid technological development helped the electronics industry create more products at competitive prices.

Some enterprises in the city are providing spare parts for the RoK’s Samsung Company, he said.

In February, the municipal Department of Industry and Trade will continue coordinating with relevant agencies to prevent counterfeit and low-quality products.-VNA