Nghi Sơn Oil Refinery and Petrochemical complex in the central province of Thanh Hoa. (Source: cafeF) Hanoi (VNA) - Vietnam’s industrial production index (IPI) rose11.2 percent on-year in the first eight months of 2018, the General StatisticsOffice (GSO) has announced.
The growth, higher than the 8.2 percent in thesame period last year, was mainly fuelled by crude oil production, whichexpanded by 510 percent and 520 percent in June and July respectively, comparedto last year’s corresponding period.
The GSO attributed the oilsector’s strong IPI rise to the opening of the Nghi Son Oil Refinery andPetrochemical complex – the country’s largest of its kind – in the centralprovince of Thanh Hoa in June and another, Binh Son, in central Quang Ngai province– which resumed operations in the same month after annual maintenance.
Some sectors in the secondary industry(dominated by the manufacturing of finished products) also saw high growth,such as coal production, up 120 percent; refined oil production (up 60 percent),mineral mining support services (up 39 percent ), electronics, computersand optical products (up 18 percent) and pharmaceuticals (up 17.5 percent).
Many primary products rose substantially againstthe same period last year, including oil and gas (up 51 percent); handsetscomponents (up 37 percent); liquefied petroleum gas (up 25 percent) andtelevisions (up 22 percent). Other items included synthetic fibres (up 21 percent);refined sugar (up 18 percent) and seafood feed (up 17.6 percent).
However, some products saw slight declines inproduction due to lower demand, such as mobile phones (down 2.3 percent) andurea fertiliser (down 3 percent).
Among localities recording higher growth inindustrial production against 2017’s corresponding period, the northern portcity of Hai Phong led with growth of 24 percent. It was followed by four othernorthern provinces of Bac Ninh, Vinh Phuc, Thai Nguyen and Hai Duong withrespective rises of 20 percent, 14 percent, 12 percent and 9.3 percent.Meanwhile, Hanoi and HCM City witnessed a modest IPI increase of 7.5 percent.
As of August 1, the number of labourers in theindustrial sector increased 3 percent from the same period last year, with a 1 percentrise in the State-owned sector, 3.2 percent in the non-State-owned sector and3.5 percent in the foreign-invested sector, the GSO said.
Earlier, the GSO predicted the IPI may slowdown in the rest of this year, reflecting the increasing importance ofsustainable development.
The office recommended strengtheningconnectivity among businesses and the enhancement of their capacity to joinsupply chains, thus making industry grow more sustainably.
It is necessary to continue reducing businessconditions, simplifying administrative procedures, enhancing the quality ofonline public services and using advanced technology to boost the growth ofindustry.
The office also stressed the need to handlestagnant and ineffective projects by the end of 2018, thus giving moreresources to the development of industry.-VNA
VNA
