City Industrial Output Rises Against Inflation in H1

Despite soaring inflation, rising oil, material prices and production costs, industrial production in Ho Chi Minh City has been developing steadfastly during the last six months, up 13.4% year-on-year.

Added value in industrial production rose 10.9% compared with the same period last year, realizing 44.9% of target.

The electronics and IT industry climbed by an impressive 44.9% year-on-year, manufacturing engineering 15.8%, and the chemical-rubber sector 16%.

In suburban areas, industrial output also increased in proportion and absolute value in line with the city’s policy.

The manufacturing engineering, IT-electronics and chemical-rubber sectors currently take up 57.8% of economic structure from 53.3% a year earlier.

Specifically, the IT sector has managed to attract major investments from Nidec and Intel while the food sector increased 12.7%.

By Lac Phong – Translated by BH

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