IIP surges 6.7% in nine months
21:14, 2014/09/29
Vietnam`s index of industrial production (IIP) recorded a year-on-year rise of 6.7% in the first nine months of this year, according to the General Statistics Office (GSO).
The processing and manufacturing sector, which made up 70% of total industrial output, achieved an encouraging 8.3% growth.
Several industries have seen high growth during the nine-month period including telephone handsets with 72.3%; electronics, computers and optical equipment with 35.9%; leather products and footwear with 31.3%; and electrical output with 13.1%.
Meanwhile, declines in industrial production have been seen in sectors including sugar (25.6%); and powdered milk (23.3%). Products with lower growth rates include crude oil and steel (3.2%); chemicals (3%); and pharmaceuticals (0.9%).
GSO experts also said that despite of the nine-month growth, the nation's IIP remained equal to one-third of the growth seen a few years ago. They attributed this to low consumption and a high inventory index, which stood at 11.6%.
The industry and trade sector in 28 northern cities and provinces will make efforts to achieve an IIP of VND2.17 quadrillion (over US$102 billion) this year. Achievement of this target will lead to a 22.5% year-on-year increase.
Meanwhile, declines in industrial production have been seen in sectors including sugar (25.6%); and powdered milk (23.3%). Products with lower growth rates include crude oil and steel (3.2%); chemicals (3%); and pharmaceuticals (0.9%).
GSO experts also said that despite of the nine-month growth, the nation's IIP remained equal to one-third of the growth seen a few years ago. They attributed this to low consumption and a high inventory index, which stood at 11.6%.
The industry and trade sector in 28 northern cities and provinces will make efforts to achieve an IIP of VND2.17 quadrillion (over US$102 billion) this year. Achievement of this target will lead to a 22.5% year-on-year increase.
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