HCMC keeps its industrial production growth

VGP - Hồ Chí Minh City continues to maintain its high and sustainable industrial production growth rate. By late September this year, the city’s industrial production value stood at nearly VND 122,000 billion, reaching 71.1% of the year plan and up 12.8% against the same period last year.

October 14, 2008 3:37 PM GMT+7

Foreign-invested businesses increased by 19%, while domestic economic sectors rose by 9.8%. The production of essential goods recorded a sharp increase, such as food and beverages 18%, building materials 25.6% and electrical appliances 16.9%.

Since the beginning of this year, the total production value of four key industries – mechanical manufacturing; electronics and IT; chemicals, rubber and plastic; and food processing - has been valued at nearly VND 70,000 billion, an average increase of 13.2% against the same period last year. Electronics and IT sector has posed the highest rate of 38.4%.

This year, the city has fully tap all available resources for its socio-economic development through developing and effectively managing indirect investment forms, further attracting capital from foreign investors and the private sector, fruitfully using the State capital, improving the quality of human resources, and developing science and technology.

From now until 2010, the city set its targets to reach an average growth rate of added value at 13% per annum; maintain the rapid economic growth; raise the quality, competitiveness and efficiency of the economy; speed up economic restructuring towards services and hi-tech industries; promote export and attract capital and modern technologies from other countries in order to back its economic development.

By Ngọc Vân