Private sector helps drive 13.6% rise in industrial production

Total industrial production value saw an annual increase of 13.6 per cent in the first quarter of this year, equaling to VND173.5 trillion (US$9.13 billion), said the Ministry of Planning and Investment’s Department of Industrial Economy.

In March, it reached VND59.7 trillion ($3.14 billion), an increase of 17.8 per cent compared with February and a 14-per-cent rise against the same period last year, the department said.

High growth in the private and foreign-invested industrial sectors made a considerable contribution to the increase while the State-owned industrial sector failed to hit its quarterly target.

In the first quarter, the processing industry, which accounted for 60 per cent of the total industrial production value, saw an increase of 14.1 per cent against the same period last year.

The production and assembly of cars and motorbikes increased sharply by 31.2 per cent and 40.4 per cent, respectively, compared with the first quarter of last year.

Other industries also enjoyed increases including the building industry with 17.4 per cent, the electric industry at 19.9 per cent, natural gas at 24.3 per cent and a 66.7-per-cent increase for liquefied petroleum gas.

The mining industry that made up 30 per cent of the total production value increased slightly by 1 per cent, said the department.

Other industrial products saw lower growth of production value including coal (10.9 per cent), rolled steel products (11.6 per cent), fertiliser (9 per cent), processed seafood (4.1 per cent), garments (7.4 per cent), washing machines (8.8 per cent), television (4.3 per cent) and air conditioning (2.3 per cent).

Meanwhile, production value of crude oil and sugar declined by 14.5 per cent and 4.9 per cent, respectively, it said.

The department said prices of steel, coal, electricity and cement increased in March. Those prices increased by at least VND800,000 per tonne of steel to VND13.2 million, by an average of VND40,000 per tonne of cement to VND900,000-VND1.4 million, by an average of 6.8 per cent for electricity, and by between 28-47 per cent to VND520,000-648,000 per tonne of coal for the electric industry.

It predicts the cement and steel prices will continue to rise in the near future.

VietNamNet/Viet Nam News

Tags: Vietnam industrial production 2010