Vietnamplus

Vietnam's industrial sector grew by 9% in 2022, according to a report published on Monday by the Ministry of Industry and Trade (MoIT).

The added value of the industrial sector rose 8.48% in the first half of 2022 against the same period last year, with manufacturing and processing up 9.66%.

The industrial sector recorded the highest growth rate among national economic sectors in the 2010-2020 period, contributing some 30% of GDP.

The industrial property market is expected to heat up this year, driven by an influx of foreign direct investment (FDI), thanks to an improved manufacturing sector and border reopening which has helped raise investors' confidence.

Vietnam’s industrial production recorded an increase of 4.82 percent in added value compared to 2020, according to figures from the General Statistics Office (GSO).

The northern province of Thai Binh has rolled out policies in promoting the development of the industrial sector at large and supporting industries in particular, with priorities given to garment-textile, mechanics and electrical/electronic devices.

Vietnamese enterprises operating in the support industry, which account for 4.5 percent of the total number of enterprises operating in processing and manufacturing, are facing several challenges, according to Akutsu Michio, consultant of the Japan Association of International Business Consultants.

Indonesian Minister of Industry Agus Gumiwang Kartasasmita on August 17 announced a strategy to replace 35 percent of imported products in 2022 so as to bolster self-reliance and promote the domestic industrial sector.

The industrial sector's added value grew 8.91 percent in the first half of the year, according to the General Statistics Office.

Indonesia and Japan continue to further intensify comprehensive economic cooperation, especially in the industrial sector, and the synergy between the two countries is expected to have a positive impact on stimulating business enthusiasm amid the ongoing COVID-19 pandemic.

Central provinces must adjust their socio-economic development goals and strategies to minimise the adverse effects brought by the COVID-19 pandemic and natural disasters in 2020, officials have said.

The added value of the industrial sector increased by 3.36 percent last year, higher than the average growth pace of the national economy, statistics show.

The industrial sector of the northeastern province of Quang Ninh enjoyed a year-on-year growth of 11.98 percent in 2020, according to figures revealed by the provincial statistics office on December 29.

More than half a billion dollars in tax returns have been awarded to firms since 2017 in a bid by the Government to boost the country's auto industry and supporting industry, according to deputy director of the General Department of Vietnam Customs Luu Manh Tuong.

The northern port province of Quang Ninh has introduced new policies in the hope of making processing-manufacturing one of the three key pillars in its industry sector, along with mining and power and gas production and distribution.

The Ministry of Planning and Investment (MPI) said it had advised the Government to implement a number of policies to support Vietnam’s industrial sector, especially the supporting industry.

The northern province of Vinh Phuc’s industry has been growing to become a key economic sector that contributes greatly to the local gross regional domestic production (GRDP).

The Indonesian government is preparing additional stimulus packages for the industrial sector, which was heavily affected by the COVID-19 pandemic, according to Minister of Industry Agus Gumiwang Kartasasmita.

Exports and imports in the southern province of Dong Nai have slowly recovered since COVID-19 was largely brought under control.

Growth of Vietnam’s industrial sector is likely to slow down in the first quarter of 2020 due to negative impacts from the acute respiratory disease caused by a novel coronavirus (COVID-19), according to the General Statistics Office (GSO).