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.