Vietnam’s index of industrial production grew by 9.6 percent from thesame period last year in the first two quarters of the year, announcedthe Ministry of Industry and Trade.
The processing andmanufacturing industry, which picked up 9.95 percent from the sameperiod in 2014, has made significant contributions to the surgingindustry growth, said Minister of Industry and Trade Vu Huy Hoang at avideo-conference held on July 1, adding that the increase in inputproduction has yielded stellar growth in the production sector.
Consumptionof the processing and manufacturing industry also posted steady growth,rising 12.7 percent in the first five months of this year against thesame period last year. High consumption was seen in motor vehicleproduction (35.5 percent), electronic and computing production (30.6percent), metal production (23.3 percent) and textile production (14.5percent).
As of June 1, the inventory index had rose 11.8percent, 1 percent below that of 2014. Some industrial products withlower inventory levels include rubber and plastic products (down 7.3percent) and electricity equipment production (down 2.1 percent).
However,production capacity of the country’s key industrial sectors such aselectronics, garments, leather and footwear and car and motorbikeassembling were limited due to dependence on imported materialsresulting in high production costs.
To fulfil industrialproduction targets in the last six months of the year, the ministry willincrease the application of science-technology and increase the use oflocally-produced components, Minister Hoang said.
Hehighlighted that the ministry will look for consumption markets andfoster inventory sales while calling for investment in the supportingindustry sector to serve the demand of input materials and increaseconnectivity between enterprises in production and supply.-VNA
The processing andmanufacturing industry, which picked up 9.95 percent from the sameperiod in 2014, has made significant contributions to the surgingindustry growth, said Minister of Industry and Trade Vu Huy Hoang at avideo-conference held on July 1, adding that the increase in inputproduction has yielded stellar growth in the production sector.
Consumptionof the processing and manufacturing industry also posted steady growth,rising 12.7 percent in the first five months of this year against thesame period last year. High consumption was seen in motor vehicleproduction (35.5 percent), electronic and computing production (30.6percent), metal production (23.3 percent) and textile production (14.5percent).
As of June 1, the inventory index had rose 11.8percent, 1 percent below that of 2014. Some industrial products withlower inventory levels include rubber and plastic products (down 7.3percent) and electricity equipment production (down 2.1 percent).
However,production capacity of the country’s key industrial sectors such aselectronics, garments, leather and footwear and car and motorbikeassembling were limited due to dependence on imported materialsresulting in high production costs.
To fulfil industrialproduction targets in the last six months of the year, the ministry willincrease the application of science-technology and increase the use oflocally-produced components, Minister Hoang said.
Hehighlighted that the ministry will look for consumption markets andfoster inventory sales while calling for investment in the supportingindustry sector to serve the demand of input materials and increaseconnectivity between enterprises in production and supply.-VNA
