HCMC posts strong industrial growth in first half 2017

HCMC’s industrial production index (IPI) increased 7.51 percent in the first half this year compared to the same period last year, reported Mr. Tran Anh Hao head of Industry Division under the HCMC Department of Industry and Trade yesterday.

Electronics and information technology is one of four key industries posting high growth rate in the first half of 2017 (Photo: SGGP)

Electronics and information technology is one of four key industries posting high growth rate in the first half of 2017 (Photo: SGGP)

In June, the index grew 2.72 percent compared to the previous month and 7.22 against the same month last year.
In the first half this year, four key industries of the city comprising mechanics, food processing, chemical-plastics-rubber and electronics-information technology obtained the growth rate of 10.23 percent, higher than the whole industry’s level, contributing 4.56 percentage points to 7.51 percent IPI growth rate.
A representative from HCMC Export Processing and Industrial Zone Authority (Hepza) said that the zones attracted US$384.32 million investment funds in the first six months this year, accounting for nearly 77 percent of 2017 plan and increasing over 39 percent compared to the same period last year.
Still, rental in HCMC’s export processing and industrial zones is higher than in neighboring provinces, so businesses have trended to investment in these provinces.
Relevant sides have proposed the city People’s Committee to speed up compensation, site clearance and resettlement for industrial development, continue capital assistance policies for businesses and connect them with commercial banks.

By AI VAN – Translated by Hai Mien

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