THE SOCIALIST REPUBLIC OF VIET NAM
Government News
Industrial production continues going up
VGP – As reported by the Ministry of Planning and Investment (MPI), the industrial production value in September is estimated at VND 62,559 billion, up 2.9% against last month and 12.5% compared to the same period last year. The industrial growth has been maintained for nine months.
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Industrial production keeps going on in the consecutive nine months of 2009 |
The three-quarter industrial production value reaches around VND 505,972 billion, up 6.5% in comparison to the same period last year.
The products holding a high percentage are clean coal (up 4.2%) and crude oil (up 17.6%).
At present, the price of crude oil vacillates in the range of US $60-70 per barrel, higher in the early months. This helps to raise export turnover and budget collection. However, it also creates pressure on domestic market prices and freight.
The industrial export turnover in the nine months is estimated at US $41.7 billion, down 14.3% against the same period. FDI enterprises have earned US $16.7 billion, 6.3% lower than the same period.
The total nine-month import value is US $48.2 billion, down 25.3% compared to the same period.
The main reason is that the global economic recession has affected export, import and domestic consumption. The import of some input materials started to increase, such as plastic, steel, cotton, fertilizers, and rubber, proving that the economy begins to rebound.
The MPI predicts that, thanks to the world economic recovery and the Government’s stimulus policies, the whole-year industrial production value can reach VND 693,795 billion, increasing by 7.2% compared to 2008.
By Hoàng Nguyên Hồ