Workers at the HCM City Industrial Park. The index of industrial production (IIP) in HCM City grew by 7.05 per cent in the first seven months of 2016. — Photo khucongnghiep.com.vn

HCM CITY (Biz Hub) — The index of industrial production (IIP) in HCM City grew by 7.05 per cent in the first seven months of 2016.

Notably, key industrial sectors, such as mechanical and manufacturing industry, electronics, chemicals, rubber and plastics and food processing, posted a year-on-year rise of 7.3 per cent, higher than the average growth of industry as a whole. 

This was attributed to their efforts to expand markets, update technology with new equipment and improve product quality and competitiveness, the municipal people's committee said. 

Sectors that posted growth in production are food and beverages (14.3 per cent), non-metallic products (21.3 per cent) and machinery and equipment (32.1 per cent). 

In July alone, the city's industrial production index rose by 3.1 per cent. 

During the month, the processing sector and industrial parks focused on drawing hi-tech investment projects and supporting business activities to record turnover of US$3.16 billion in exports and $3.17 billion in imports. 
The IIP in the first seven months of last year grew by 6.6 per cent. — VNS