Vietnam’s index of industrial production (IIP) was estimated to have risen by 10.4% in the first ten months of 2018, much higher than the 9.6% growth level of the same period last year, according to the General Statistics Office (GSO).
Vietnam’s IIP was estimated to
have risen by 10.4% in the first ten months of 2018. (Photo: VNA)
Accordingly, the manufacturing and processing industry saw a
high growth of 12.7%, contributing 9.8 percentage points to the overall IIP
growth.
In addition, the power production and
distribution sector surged by 9.6%, contributing 0.9 percentage points, while
the water supply and waste and wastewater treatment industry edged up 6.6% with
contribution of 0.1 percentage points.
Meanwhile, the mining industry decreased
by 2.6%, reducing the overall IIP by 0.4 percentage points.
The central province
of Ha Tinh recorded the highest growth
of industrial production at 105.6%, thanks to the contribution of Formosa’s steel factory, followed by the north
central province
of Thanh Hoa with 30.3%.
The southern coastal province of Ba Ria-Vung Tau
witnessed the lowest growth with 1.3% due to the decrease of crude oil
exploration.
The country’s IIP for October only was estimated
to see a year-on-year increase of 7.7%.
Source: NDO
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Prime Minister Pham Minh Chinh attended a groundbreaking ceremony for an electronic printed circuit board (PCB) factory at Da River Left Bank Industrial Park in Hoa Binh province on April 13. The electronic PCB factory is invested by Japan's Meiko Group at a total cost of 200 million USD.
In the first quarter of 2024, the credit institutions in the province have actively deployed the legal documents of the State and the State Bank relating to currency, credit and interest rates. At the same time, they have promoted the capital mobilization, focusing on the solutions to expand the credit investment along with strengthening the credit quality management, lending to priority programs to promptly meet the capital needs for export - business and consumer demand during Tet in 2024.
Outside the key economic region of Hoa Binh, yet Lac Son district has utilised its potential and strengths regarding labour, land, and transportation connectivity to attract investment to the locality, contributing to promoting socio-economic development.
