HCM City’s industrial development index up 7.5 percent
Ho Chi Minh City’s industrial development index in the first half of this year expanded 7.5 percent year-on-year, the highest rise in the past five years, reported the municipal People’s Committee.
HCM City (VNA) – Ho ChiMinh City’s industrial development index in the first half of this year expanded7.5 percent year-on-year, the highest rise in the past five years, reported themunicipal People’s Committee.
The growth is fuelled bymechanical engineering-manufacturing, electronics, chemical-rubber-plastic andfood processing sectors, which rose 9.72 percent, higher than the averagefigure.
Specifically, the mechanicalengineering-manufacturing expanded 17.5 percent as compared to the same periodlast year thanks to the use of modern and competitive equipment.
Meanwhile, the electronics andinformation technology sector grew 12.4 percent, and the food processing up 4.9percent.
Pham Thanh Kien, Director of themunicipal Department of Industry and Trade, attributed the growth to the city’sindustrial development policy, including providing financial assistance, formingconnectivity between supporting industry and manufacturing firms, and attractinginvestment in industrial parks and clusters.
The city has also built adatabase on the supporting industry, particularly those regarding mechanicalengineering enterprises.
The city’s total electricityconsumption during the period was estimated at 11.6 billion kWh, up 2.86percent year-on-year. Up to 205.6 million kWh were saved, or 57.11 percent ofthe target.
HCM City-based businesses’ exportvalue reached 4.6 billion USD, up 79.6 percent while imports hit 4.15 billionUSD, marking a 69.2 percent increase.-VNA
Ho Chi Minh City posted strong economic growth in the first two months of this year, according Vo Van Hoan, Office Chief of the municipal People’s Committee.
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Illustrative image (Source: VNA) 
