Inventories to drop in remaining months of 2013
The volume of inventories is
expected to sharply decrease in the last months of this year, especially
garments and textiles and footwear, heard an online meeting held by the
Ministry of Industry and Trade (MIT).
The volume of inventories is
expected to sharply decrease in the last months of this year, especially
garments and textiles and footwear, heard an online meeting held by the
Ministry of Industry and Trade (MIT).
Addressing the November 4 meeting in Hanoi , Nguyen Tien Vy, head of the Planning Department under the MIT, attributed the outlook to domestic exporters’ move to fulfil their orders.
The ministry’s statistics show that by October 1, shuttle-knitted fabric, cement, cement products and electronic components experienced a drastic drop in inventory indexes with 44.2 percent, 43.1 percent, 14 percent and 74.9 percent respectively.
Meanwhile, the inventory index of processing and manufacturing industries increased 9.7 percent over the same period last year.
According to the ministry, the index of industrial production (IIP) in October went up about 5.9 percent against the corresponding time last year, with processing and manufacturing sectors, 8.2 percent and power production and distribution, 9 percent.
Aquatic product processing and preservation, beer, fibre, ready-to-wear and cement sectors saw their indexes of industrial production up 16.5 percent, 15.1 percent, 39.2 percent, 37 percent and 13.3 percent.
However, the mining sector’s IIP fell by 2.8 percent last month, the ministry said.
During the January-October period, the IIP rose by around 5.4 percent over the same period last year, with processing and manufacturing sectors up 6.9 percent and power production and distribution up 8.6 percent.-VNA
Addressing the November 4 meeting in Hanoi , Nguyen Tien Vy, head of the Planning Department under the MIT, attributed the outlook to domestic exporters’ move to fulfil their orders.
The ministry’s statistics show that by October 1, shuttle-knitted fabric, cement, cement products and electronic components experienced a drastic drop in inventory indexes with 44.2 percent, 43.1 percent, 14 percent and 74.9 percent respectively.
Meanwhile, the inventory index of processing and manufacturing industries increased 9.7 percent over the same period last year.
According to the ministry, the index of industrial production (IIP) in October went up about 5.9 percent against the corresponding time last year, with processing and manufacturing sectors, 8.2 percent and power production and distribution, 9 percent.
Aquatic product processing and preservation, beer, fibre, ready-to-wear and cement sectors saw their indexes of industrial production up 16.5 percent, 15.1 percent, 39.2 percent, 37 percent and 13.3 percent.
However, the mining sector’s IIP fell by 2.8 percent last month, the ministry said.
During the January-October period, the IIP rose by around 5.4 percent over the same period last year, with processing and manufacturing sectors up 6.9 percent and power production and distribution up 8.6 percent.-VNA
You should also see
Localities get ready for fourth FDI boom
As the year 2024 is expected to witness the start of the fourth wave of foreign direct investment (FDI) to Vietnam, localities nationwide are getting ready to absorb foreign capital flows.
See more
Business
HCM City moves towards Net Zero
Ho Chi Minh City is building a project to restructure its industry towards sustainable development in the 2025-2030 period, with a vision to 2050, prioritising the use of high technology and reducing emissions towards net zero emissions by 2050.
Business
Old loans must endure higher interest rates temporarily: central bank
The average lending interest rate for new loans by commercial banks is reported at around 6.4% per year, a decrease of 0.7 percentage point per year compared to the end of last year. However, borrowers with loans issued before the latest rate adjustment still must pay higher rates, according to the State Bank of Vietnam (SBV).
Business
Vietnam among top domestic infrastructure investors: Ambassador
Vietnam is one of the leading countries in Asia in terms of investment for infrastructure development, allocating 5.7% of its Gross Domestic Product (GDP) to projects in this field, said Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the United Nations (UN).
Business
Vietjet adds more flights to Dien Bien
To meet the rising demands to visit Dien Bien of people and tourists during the celebration of the 70th anniversary of the Dien Bien Phu victory, Vietjet increased the frequencies of flights between Hanoi, Ho Chi Minh City and the northwestern province to 28 per week.
Videos
Agro-forestry-fisheries products nearly double in Q1
Total export revenue from agro-forestry-fisheries products in the first three months of this year is estimated at over 13.5 billion USD, up nearly 22% over the same period last year, according to the Ministry of Agriculture and Rural Development.
