HCM City: industrial production grows 13.74 percent month-on-month in June
HCM City’s index of industrial production (IIP) in June rose 13.74 percent from the previous month, according to statistics of the municipal People’s Committee.
HCMCity (VNA) - ﷺHCMCity’s index of industrialproduction (IIP) in June rose 13.74 percent from the previous month, accordingto statistics of the municipal People’s Committee.
The six-month IIP was equivalent to only96.8 percent of the figure of the same period last year. Thefour key industries of electronics, food and beverages, chemicals – rubber – plastic, and mechanics expanded by 0.8 percent. The electronics industry grew at 17.7 percent and the chemical industry by 9 percent. The electronics industry isseen to benefit from a strong and steady increase in domestic demand. Accordingto a report by the HCM City Computer Association, during the social distancingcampaign, the demand for computer products and internet services increasedsharply to serve the needs of people studying and working from home. Besides, industries with high growth ofmore than 10 percent included tobacco (11.7 percent), pharmaceuticals andpharmaceutical materials (20.7 percent). Industries with strong reductions werewood processing and wood and bamboo products (except furniture), metals, amongothers. Asurvey by the HCM City Statistics Department of more than 16,300 enterprises invarious industries found half of those affected by the pandemic saying theconsumer market had shrunk. More than half of State-ownedenterprises and 48.45 per cent of foreign enterprises that regularlyexport said they have been unable to do so this year. /.
Chairman of the Ho Chi Minh City People’s Committee Nguyen Thanh Phong has requested more efforts to perform the dual task of recovering the economy while fighting COVID-19.
The southern economic hub of Ho Chi Minh City has spent 465 billion VND (20.2 million USD) supporting more than 336,550 business households and employees seriously affected COVID-19, according to Director of the municipal Department of Labour, Invalids and Social Affairs Le Minh Tan.
The Index of Industrial Production (IIP) for HCM City in May rose 7.9 percent against April but was down 15.5 percent year-on-year, according to the city’s Department of Industry and Trade.
Businesses and local people in HCM City have had relatively low demand for capital due to the negative impact of the COVID-19 pandemic, resulting in the city’s credit growth in the first half of 2020 falling to its lowest level for many years.
Minister of Planning and Investment Nguyen Chi Dung has asked localities to bring their advantages into full play to welcome a wave of shifting FDI over the next six months.
Industrial production was greatly affected by COVID-19 in the first half of 2020 but has gradually bounced back since May, according to the General Statistics Office (GSO).
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
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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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Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
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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.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
Vietnam has so far attracted 43,346 valid FDI projects with a total registered capital of 517.14 billion USD. The accumulated disbursed capital is estimated at nearly 331.46 billion USD, accounting for 64.6% of the total registered capital.
More than a product showcase, Vietfood & Beverage – Propack Vietnam 2025 is designed as a comprehensive ecosystem where businesses, experts, and consumers can share knowledge, explore technologies, and connect for collaboration.
Both sides expressed their hope that the outcomes of the discussion will continue to improve the efficiency of customs clearance activities at the customs clearance points and dedicated transport routes of the Huu Nghi – Youyi Guan international border gate pair.
The maximum retail price of E5 RON92 petrol has increased by 207 VND to 19,608 VND (0.75 USD) per litre while that of RON95-III rose by 234 VND to 20,074 VND per litre.
A corner of Ho Chi Minh City (Photo: VNA) 
