Workers of Viglacera Thai Binh Company on a production line in northern Thai Binh Province. Viet Nam's index of industrial production in the first nine months of this year rose 7.4 per cent year-on-year. — VNA/VNS Photo Thu Hoai

HA NOI (Biz Hub) — Production and business in the third quarter was stable and better than the second quarter, according to the General Statistic Office (GSO).

According to the GSO's survey on business trend for enterprises in the processing and manufacturing industries, 85.6 per cent of local enterprises said it was stable, however, 14.4 per cent said domestic production and business still faced difficulties.

Nguyen Bich Lam, GSO's director, on Thursday said production and business of local enterprises in the last quarter was expected to be better than the third quarter, especially for foreign-invested enterprises and State-owned firms.

The GSO also said in the first nine months of this year the country had 81,451 newly-established enterprises with total capital of VND629 trillion (US$27.96 billion), an increase of 19.2 per cent in the number of enterprises and 49.5 per cent in capital. Average registered capital surged by 25.4 per cent to VND7.7 billion per enterprise.

The number of enterprises that revived production and business in the first nine months also rose by 59.6 per cent to 20,549 units.

Those good results proved that new legal systems and the Government's solutions on support and encouragement for development of enterprises had improved efficiency and helped enterprises discover new opportunities in production and business, Lam said.

IIP rises

Viet Nam's index of industrial production (IIP) in the first nine months of this year rose 7.4 per cent year-on-year, the GSO announced.

The growth rate was lower than the 10 per cent recorded during the same period last year as a result of a 4.1 per cent pproduction decline in the mining sector, the GSO said.

In September alone, the IIP saw a year-on-year rise of 7.6 per cent.

The processing and manufacturing sector, which accounts for more than 70 per cent of the total value of the industrial sector, grew 10.4 per cent in the reviewed period, electricity production and distribution rose 12.1 per cent, while the water supply, waste and waste water treatment saw an increase of 6.9 per cent.

As of September 1, the inventory index of the processing and manufacturing sector surged 9 per cent compared with the same period last year, the GSO noted.

According to the GSO, the capacity for improvement in industrial production for the rest of this year is limited. — VNS