HCM City’s industrial development index up 7.5 percent
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HCM City’s industrial development index up 7.5 percent

Economy, Vietnam, Vietnam Finance News

Monday, June 19, 2017 – 19:04:00 Print

Illustrative image (Source: VNA)

HCM City (VNA) – 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.

The growth is fuelled by
mechanical engineering-manufacturing, electronics, chemical-rubber-plastic and
food processing sectors, which rose 9.72 percent, higher than the average

Specifically, the mechanical
engineering-manufacturing expanded 17.5 percent as compared to the same period
last year thanks to the use of modern and competitive equipment.  

Meanwhile, the electronics and
information technology sector grew 12.4 percent, and the food processing up 4.9

Pham Thanh Kien, Director of the
municipal Department of Industry and Trade, attributed the growth to the city’s
industrial development policy, including providing financial assistance, forming
connectivity between supporting industry and manufacturing firms, and attracting
investment in industrial parks and clusters.

The city has also built a
database on the supporting industry, particularly those regarding mechanical
engineering enterprises.

The city’s total electricity
consumption during the period was estimated at 11.6 billion kWh, up 2.86
percent year-on-year. Up to 205.6 million kWh were saved, or 57.11 percent of
the target.

HCM City-based businesses’ export
value reached 4.6 billion USD, up 79.6 percent while imports hit 4.15 billion
USD, marking a 69.2 percent increase.-VNA


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