First half industrial production up 5.8 percent
14:17, 2014/06/24
Vietnam`s industrial production is seeing improvement, with estimated growth of 5.8 percent seen in the first half of this year, higher than last year`s 5.3 percent rise.
June's industrial production index was estimated to increase 0.5 percent against the previous month, and this figure was also up by 6.5 percent against June last year.
The processing and manufacturing industry posted growth of 7.8 percent against the same period last year, while its consumption rose 9 percent.
The industry's higher consumption increases versus that of production is a positive signal for the industry's recovery and development, in particular, and for the whole economy, in general.
Officials pointed out that a number of industries showed high growth rates in the first half of the year, including rolled steel production, up 25.4 percent; automobiles, up 24.2 percent; mobile phones, up 22.7 percent; and leather footwear, up 22.2 percent.
Thanks to the rise in consumption, the number of recruited workers in industrial production firms as of June 1 saw an increase of 0.8 percent against the previous month; the rise was 2.7 percent when compared with the same period last year.
The Vietnam Chamber of Commerce and Industry (VCCI) in a recent report also noted that the first half of this year had seen a sharp improvement in business conditions compared with second half last year, despite the impact of various challenges.
The chamber forecast that the total consumption of domestic firms will continually rise in the second half of this year.
In a move to boost production, the prime minister last week required the VCCI and other relevant ministries and agencies to resolve the requests of businesses and address their difficulties in a timely manner before reporting the issues each month to the prime minister and each quarter to the government.
The relevant bodies have been instructed to focus on improving the business and investment environment, supporting firms in accessing credit and markets, and restructuring firms.
The industry's higher consumption increases versus that of production is a positive signal for the industry's recovery and development, in particular, and for the whole economy, in general.
Officials pointed out that a number of industries showed high growth rates in the first half of the year, including rolled steel production, up 25.4 percent; automobiles, up 24.2 percent; mobile phones, up 22.7 percent; and leather footwear, up 22.2 percent.
Thanks to the rise in consumption, the number of recruited workers in industrial production firms as of June 1 saw an increase of 0.8 percent against the previous month; the rise was 2.7 percent when compared with the same period last year.
The Vietnam Chamber of Commerce and Industry (VCCI) in a recent report also noted that the first half of this year had seen a sharp improvement in business conditions compared with second half last year, despite the impact of various challenges.
The chamber forecast that the total consumption of domestic firms will continually rise in the second half of this year.
In a move to boost production, the prime minister last week required the VCCI and other relevant ministries and agencies to resolve the requests of businesses and address their difficulties in a timely manner before reporting the issues each month to the prime minister and each quarter to the government.
The relevant bodies have been instructed to focus on improving the business and investment environment, supporting firms in accessing credit and markets, and restructuring firms.
21:12, 2025/01/12
Hanoi prioritizes key industrial products
The city is offering incentives to key manufacturers of industrial products, focusing on improving the business environment, advancing science and technology, and improving human resources.
16:42, 2025/01/12
AI set to drive Vietnam's economic growth in 2025
In 2024, Vietnam's digital economy saw a major uptick in interest in artificial intelligence (AI).
22:38, 2025/01/11
AEON Vietnam opens another department store in Hanoi
Vietnam remains AEON's second most important market in its medium- and long-term strategic plans.
22:32, 2025/01/09
Support measures to strengthen Hanoi's small businesses and local industries
In 2025, the geopolitical and economic landscape is expected to remain complex, affecting production, investment and trade activities.
17:17, 2025/01/08
European companies endorse Vietnam as investment destination
A large number of European companies foresee an improvement in the macroeconomic outlook for Vietnam in the first quarter of 2025.
10:47, 2025/01/08
Hanoi's flower market flourishes ahead of Tet 2025
The city is working to promote the sale of flowers and ornamental plants during Tet.
- All-time high for Vietnamese FDI in 2024
- Mechanisms matter to promote energy efficiency in Vietnam's industrial sectors
- Hanoi targets to become nation’s logistics hub
- Vietnam's textile industry braces for tougher competition in 2025
- Vietnam needs 2,400 professionals to operate Ninh Thuan nuclear power projects
- Vietnam's 2025 digital economy to thrive on AI-powered solutions