HCM City’s major industries regain growth momentum
The index of industrial production (IIP) of major industries in Ho Chi Minh City increased 7.5 percent year-on-year in the first quarter of this year, 3.7 percentage points higher than the sector’s overall growth.
Illustrative image (Source: VNA)Such figures reflect the fact that COVID-19 has been contained in the city and an optimal business and production environment created for enterprises.
Nguyen Nguyen Phuong, head of the bureau of planning and finance under the municipal Department of Industry and Trade, said the city’s IIP in March jumped 29.4 percent month-on-month and 2.2 percent year-on-year.
The index rose 3.8 percent year-on-year in the first quarter.
Among major industries, increases were seen in electronics production, of 24.7 percent; food, foodstuff, and beverage processing 14.5 percent; and mechanics 1.8 percent. Only pharmaceutical chemistry-rubber-plastics posted a year-on-year decline, of 3.9 percent.
Between January and March, businesses in the southern metropolis exported 10.73 billion USD worth of goods, an increase of 2.2 percent year-on-year, while imports were valued at about 13.63 billion USD, up 17.7 percent.
To facilitate the operations of enterprises, the city has adopted a host of mechanisms and policies, helping them revamp machinery, equipment, and technology, train personnel, and expand markets.
It has also worked to create opportunities for enterprises to attract investment from domestic and foreign economic sectors.
According to Bui Ta Hoang Vu, Director of the municipal Department of Industry and Trade, in the second quarter, HCM City will roll out plans on the implementation of approved projects and programmes, including a project on e-commerce development, one on logistics development, and another on export development by 2025 with a vision towards 2030.
It will also carry out multiple activities in support of major industries as well as those boasting great potential, he said./.
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