Industrial production goes up in 10 months

Vietnam’s index of industrial production (IIP) for January-October increased by 6.9% over the same period last year, fuelled by growth in almost areas, reported the Ministry of Industry and Trade at a televised conference in Hanoi on November 3.

 The October IIP growth rate was up 4.6% and 7.9% on a monthly and yearly basis, respectively.

The ministry’s report also showed that during the ten-month period, the mining, processing-engineering and water and sewage treatment sectors expanded by 0.7%, 8.4% and 6.4%. 

Meanwhile, higher growth was also seen in electricity production and distribution, fisheries processing and preservation, textile and footwear sectors, ranging from 11.5% to 20.8%. 

Deputy General Director of the Vietnam National Oil and Gas Group (PVN), Nguyen Hung Dung, said the sector generated VND626 trillion (US$29 billion), meeting 90 percent of its annual target so far. 

Coal productivity reached 28.6 million tonnes, accounting for 84% of the annual target, General Director of the Vietnam National Coal and Mineral Industries Group Dang Thanh Hai reported. 

He added that coal consumption hit 29.2 million tonnes, up by 8% in the reviewed period, with domestic consumption accounting for 24.3 million tonnes, up by 29%. 

The chemical fertiliser sector also saw a slight increase in production and a decline in imports, both in quantity and value.

Deputy Minister Nguyen Cam Tu urged the sectors to balance supply and demand, and increase exports while also developing the domestic market.
VNA/VOV.VN