HCMCity (VNA) – Ho Chi Minh City sets a target of 5 percent industrialgrowth in 2021 and its four key sectors expanding by at least 6.7 percent,according to its Department of Industry and Trade.

The four are food processing, pharmaceuticalchemicals-rubber-plastic, mechanicalengineering, and electronics.

The city also targets 10 percent growth in retail sales of goods and servicesand exports to 905.563 trillion VND (39 billion USD) and 49.2 billion USD.

Speaking at a meeting held on January 13 to review the industry and tradesector’s performance last year and set tasks for this year, Nguyen Phuong Dong,the department’s deputy director, said: “In 2020 city enterprises restructuredtheir production to make it market-oriented. The city’s industrial sectorshrunk by 4 percent last year due to the impact of the COVID-19 pandemic.

“The electronics sector grew by 18.7 percent. Local and foreign firms madeproducts that were exported to many countries and territories.”

Computer and electronic components exports were worth an estimated 17.83billion USD, an increase of 18.1 percent from 2019, he said.

The pharmaceutical chemicals-rubber-plasticindustry grew by 4.7 percent.

“Many local rubber and plastic firms have successfully participated in globalsupply chains for the automobile, motorbike, mechanical engineering, andelectrical and electronics industries.

“Thanks to their proactive investment in technology and production managementwith an eye on long-term development, their products have high added value andmeet the requirements of large multinational companies.”

The food and beverage industry’s output fell by 0.7 percent due to the impactof the pandemic and Decree No 100 that stipulated huge fines for drunk driving.

The mechanical engineering industry’s output fell by 12.4 percent mainly due toa decrease in the production of motor vehicles.

Due to the impact of the pandemic, output dropped sharply in the second quarterand then recovered gradually, especially from September.

Retail sales of goods and services were worth an estimated 1,224 trillion VND (52.9billion USD), a decrease of 1.3 percent.

Dong said this year the industrial sector would step up administrative reform,work closely with business groups and official agencies to promptly addressdifficulties faced by businesses, and carry out programmes to help businessesrestore production and expand their markets.

Ly Kim Chi, chairwoman of the HCM City Food and Foodstuff Association, calledon the department to organise more trade promotion programmes to help firmspromote their products and expand their market.

Also at the meeting, the city Department of Industry and Trade announced a listof 92 industrial and supporting industries products made by 56 enterprises thatmeet the criteria set for ‘featured industrial products of HCM City in 2020.’

These are high value-added with innovative designs that meet the demands ofdomestic and foreign markets./.