HCM City (VNA) – Ho Chi Minh City’s index ofindustrial production (IIP) in March increased 25.9 percent month-on-month and5.5 percent year-on-year.
The index in the first quarter of this year rose 1 percent,with processing and manufacturing up 0.4 percent; power production anddistribution up 3.3 percent; and water supply and waste treatment up 4.2percent.
The business community in the southern economic hub expectsto utilise this growth to continue the stable recovery and development of industrialproduction.
Phan Minh Thong, Chairman of Phuc Sinh Group, pointed out thechallenges facing domestic enterprises, including fierce competition from e-commerceplatforms.
As a solution, he suggested Vietnamese enterprises diversifytheir export markets to bring into full play IIP growth.
Le Huynh Minh Tu, Deputy Director of the HCM City Departmentof Industry and Trade, said his department plans to organise meetings,consultations, experience exchanges and cooperation programmes withassociations and businesses at home and abroad.
It will also focus on trade and investment promotions across a range of markets andgroups of commodities to facilitate Vietnam’s accession to global value chains,while boosting cooperation in areas such as the digital economy, e-commerce,logistics and industry.
Statistics showed that between January 1 and March 13, 2022,HCM City licensed 8,477 firms with total registered capitalof over 140.3 trillion VND (6.14 billion USD), up 34.5 percent in volumebut down 5.7 percent in capital.
Of the businesses, 993 were in the industrial sector, withcombined capital of 30.7 trillion VND, down 44.1 percent year-on-year./.
With its import and export values growing 14.7 and 13.5 percent year-on-year to hit 24.6 and 31.5 billion USD in 2021, respectively, the southern province of Binh Duong recorded a trade surplus at 6.8 billion USD.
Ho Chi Minh City’s Industrial Production Index (IIP) in 2021 declined 14.3 percent though the figure rebound to grow 13.5 percent month-on-month in December, according to the municipal Department of Statistics.
The southern industrial province of Binh Duong looks to get its COVID-stricken economy back on track this year, aiming for an increase of 8 – 8.3 percent of the Gross Regional Domestic Products (GRDP).
Ho Chi Minh City’s Index of Industrial Production (IIP) rose 2.1 percent year-on-year in the first two months of 2022, according to the municipal Department of Statistics.
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Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
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A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
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Illustrative image (Source: VNA) 
