HCM City’s major industries regain growth momentum
The index of industrial production (IIP) of major industries in Ho Chi Minh City increased 7.5 percent year-on-year in the first quarter of this year, 3.7 percentage points higher than the sector’s overall growth.
HCM City (VNA) - The index of industrial production(IIP) of major industries in Ho Chi Minh City increased 7.5 percent year-on-year inthe first quarter of this year, 3.7 percentage points higher than the sector’s overallgrowth.
Such figures reflect the fact that COVID-19 has been containedin the city and an optimal business and production environment created forenterprises.
Nguyen Nguyen Phuong, head of the bureau of planningand finance under the municipal Department of Industry and Trade, said thecity’s IIP in March jumped 29.4 percent month-on-month and 2.2 percentyear-on-year.
The index rose 3.8 percent year-on-year in the first quarter.
Among major industries, increases were seen in electronicsproduction, of 24.7 percent; food, foodstuff, and beverage processing 14.5percent; and mechanics 1.8 percent. Only pharmaceuticalchemistry-rubber-plastics posted a year-on-year decline, of 3.9 percent.
Between January and March, businesses in the southernmetropolis exported 10.73 billion USD worth of goods, an increase of 2.2percent year-on-year, while imports were valued at about 13.63 billion USD, up 17.7percent.
To facilitate the operations of enterprises, the cityhas adopted a host of mechanisms and policies, helping them revamp machinery,equipment, and technology, train personnel, and expand markets.
It has also worked to create opportunities for enterprisesto attract investment from domestic and foreign economic sectors.
According to Bui Ta Hoang Vu, Director of themunicipal Department of Industry and Trade, in the second quarter, HCM Citywill roll out plans on the implementation of approved projects and programmes, including a project on e-commerce development, one on logistics development,and another on export development by 2025 with a vision towards 2030.
It will also carry out multiple activities in supportof major industries as well as those boasting great potential, he said./.
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Illustrative image (Source: VNA) 
