Industrial production increases in January

The industrial production value increased by 28.4 percent in January to VND62.79 trillion as a result of the country’s economic recovery, said Deputy Minister of Industry and Trade Bui Xuan Khu.

The non-state economic sector maintained the highest growth rate of 31.1 percent. It was followed by the foreign-invested sector (29.1 percent) and the state-owned sector (23.1 percent).

Electricity, coal, fuel and clothing experienced a sharp rise in production, Deputy Minister Khu added.

He noted Da Nang city, Vinh Phuc, Phu Tho, Binh Duong and Quang Ninh led other localities in terms of industrial production growth rate ranging between 46.6 and 92.7 percent.

As a result of economic stability, increasing investment in construction has caused a sharp increase in the prices of some construction materials. Cement value soared by 91.5 percent and steel by 61.5 percent.

The apparel industry also encountered advantages in January with more contracts for domestic consumption and export trade.

To maintain the growth rate in February, the Ministry urged businesses to rearrange production and renew methods of management and promote production of materials for export and supporting items.

VOVNews/VNA

Tags: Vietnam Industrial Production