Tan Thuan Export Processing Zone in HCM City's District 7. – VNS File Photo/VNA

HCM City is providing assistance to the manufacturing sector to sustain industrial growth.

It will amend the development plans for industrial parks (IPs), build a new IP measuring over 360ha for hi-tech industries, change start-up programmes, and create new support policies.

According to its Statistics Bureau, HCM City has more than 50,000 businesses in the manufacturing sector or 13 per cent of all businesses in operation.

They include over 860 foreign businesses or 20.7 per cent of the total.

The city-designated four major industrial sectors (mechanical engineering; chemicals – rubber – plastics; food processing, and electronics - IT industry) account for 9.86 per cent of the city’s economy, and are growing at an average rate of 9.22 per cent a year compared to the city’s economic growth of 8.32 per cent

In 2016 – 20 the Index of Industrial Production (IIP) the four major industrial sectors has grown at an estimated 8.56 per cent annually compared with the average annual city industrial production growth of 7.86 per cent, Sai Gon Giai Phong newspaper reported. – VNS.