Index of Industrial Production increases

Tuesday, Mar 15, 2022 11:34

IIP in February grew by 8.5 per cent year-on-year. The processing and manufacturing industry is still the main driving force. — VNAVNS Photo

The index of industrial production (IIP) grew by 8.5 per cent in February over the same period last year, marking the fourth consecutive monthly increase.

The processing and manufacturing industry was still the main driving force, reported the Ministry of Industry and Trade.

Since Resolution 128/NQ-CP on safe and flexible adaptation to the pandemic was issued on October 11, the IIP has continuously increased, showing the stability of factories and workers, especially in key fields such as processing, manufacturing, electricity production and distribution.

Hiumin Liu, general director of USI Vietnam Co Ltd, said that 2,000 positions were filled in the first quarter of this year to conduct trial production in the second quarter and mass production in the third quarter, ensuring guarantee capacity of up to 14 million products per year.

“The effective pandemic control in Hai Phong City and the openness in logistics transportation, machinery and equipment have helped our enterprises ensure the project's phase 1 plan, as well as speed up production and improve goods supply capacity in the face of the high competition of the current electronic manufacturing service industry," Liu told Cong Thuong (Industry & Trade) Newspaper.

Do Phuoc Tong, general director of Duy Khanh Engineering Co Ltd, said that businesses would have a lot of work this year.

Although the enterprise's high-tech factory project had just started in early October last year, it continuously received orders, he said.

"We are accelerating the project construction progress to put the factory into production in the second quarter of this year," added Tong.

The Ministry of Industry and Trade said that the resumption of supply chains of key industries in the first quarter of this year was helping to remove "bottlenecks" in the production supply chain.

To create momentum for production activities in the coming months, the ministry said that it was necessary to continue to ensure an adequate supply of raw materials and energy to meet the requirements of production, business recovery, and socio-economic development requirements.

At the same time, the ministry recommended focusing on removing difficulties and obstacles for important industrial projects and maximum support for factories to maintain and restore production to keep orders and maintain the supply chain.

The industry and trade sector would also effectively implement the Government's solutions to remove difficulties and obstacles for businesses and people, help businesses restore financial and labour resources, and serve production. — VNS

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