Industrial production value rises

The nation’s industrial production value this year grew to VND794.2 trillion (US$37.8 billion), a 14-per-cent increase over the previous year, according to the General Statistics Office (GSO).

The growth rate was similar to that in the years prior to the global economic crisis, suggesting that domestic industry had made a full recovery, said GSO economist Nguyen Quang Ha.

The processing industry accounted for VND710.9 trillion ($33.85 billion), or 89.5 per cent, of the total, he added, with liquefied natural gas processing see a growth rate of 62.4 per cent and paints a growth of 34.7 per cent.

Breweries and glassmaking also saw growth rates brisker than the overall average.

The mining and petroleum industries, meanwhile, saw a reduction in output in 2010, with crude oil production dropping 8.8 per cent to 14.97 million tonnes and coal production off by a scant 0.2 per cent to 44.1 million tonnes.

The foreign-invested sector made the largest contribution to growth, accounting for 42 per cent of total industrial value. This sector saw industrial value grow 17.2 per cent during the year. — VNS

Tags: Vietnam Industrial Production, Vietnam industries, Vietnam industry

Posted by VBN on Dec 29 2010. Filed under Economy News, Industry, Industry. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry