HCM City’s industrial production rises in first half

Tuesday, Jun 20, 2017 15:29

Engineering equipment being manufactured at Saigon Precision Co in HCM City’s Linh Trung Processing Zone. — Photo hiec.org.vn

HCM City’s industrial production index experienced a year-on-year increase of 7.5 per cent in the first half of this year, the highest level recorded in the past five years.

This was revealed by the latest statistics from the municipal People’s Committee.

The positive performance was attributed to the industrial output growth seen in four key sectors — mechanical engineering, manufacturing, electronics and IT, chemical-rubber-plastic and food processing, the committee said.

Typically, the mechanical engineering and the manufacturing sector expanded 17.5 per cent year-on-year, thanks to the use of modern and competitive equipment. Meanwhile, the electronics and IT sector grew 12.4 per cent, and the food processing industry rose 5 per cent.

Pham Thanh Kien, director of HCM City’s Department of Industry and Trade, said the city has facilitated its industrial development by focussing on providing financial assistance, connecting part suppliers and manufacturing firms, and attracting investment in industrial parks and complexes.

The city has built a database for the supporting industry to help businesses seek information on equipment, machinery and new production technologies, he said.

According to the data, the city’s total electricity consumption in the period between January and June was estimated at 11.6 billion kWh, up 3 per cent over the same period last year.

The city also generated an estimated US$4.6 billion from exports in the six months, surging 80 per cent year-on-year, while its imports saw a yearly rise of 69.2 per cent to $4.15 billion. — VNS

Comments (0)