HCM City’s IIP up 2.1 percent in January – February
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.
HCM City (VNA) - HoChi Minh City’s Index of Industrial Production (IIP) rose 2.1 percent year-on-yearin the first two months of 2022, according to the municipal Department ofStatistics.
In February alone, the index increased by 20 percent compared to the sameperiod last year, mainly driven by the industrial production and mining industry which recorded a yearly riseof 3 folds, and a month-on-month surge of 113 percent.
In January – February, the city’s four key industries –mechanics, electronics and information technology, chemistry and rubber, andfood processing – picked up 9.0 percent from the same period last year.
The chemistry’s IIP posted a highgrowth of 35.3 percent, while the mechanical industry saw an increase of 6.2percent.
Meanwhile, that of food – beverage and electronic industries decreased by 1.5percent and 13.2 percent, respectively.
A yearly growth of 4.3 percent was also seenin the group of traditional industries in the first two months.
The city’s sales of products of themanufacturing and processing rose by 1 percent year-on-year during the period,while this sector’s inventory grew 15.1 percent compared to the same period last year.
Despite the emergence of new strains of coronavirus, HCM City’s industrial production has gradually recoveredand developed in the first months of 2022.
Municipal authorities have taken a series of specific mechanisms andpolicies to support local businesses and labourers facing difficulties caused by the COVID-19 pandemic./.
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Illustrative image (Photo: VNA) 
