HCM City’s industrial production up 13.3% in November
Ho Chi Minh City’s Index of Industrial Production (IIP) decreased 15.5% year-on-year in the first 11 months of this year despite growth of 13.3% in November, according to the municipal Department of Industry and Trade (DoIT).
Most industries suffered a drop compared to the same period last year, including beverage production, maintenance and installation of machinery and equipment, due to the impact of the COVID-19 pandemic.
Four key industries saw decreases in IIP in the 11-month period, with the largest decline seen in the electronics manufacturing industry (down 18.7%). It was followed by the food and beverage industry (15.1%), mechanical industry (10.6%) and chemical and pharmaceutical industry (5.6%).
According to the DoIT, despite the fact that there was an improvement in November’s IIP against October’s figure, many key industries still had a negative index compared to the same period last year.
In response to the pandemic which saw complicated developments and tended to increase again in the second half of November, the city's authorities have drastically adopted pandemic prevention and control measures, focusing on offering the second shots for employees in industrial and processing zones and for children aged 12-17.
The DoIT continued to maintain welfare policies to support businesses and workers meeting with difficulties. Other departments and agencies in the city have also coordinated to implement preferential loans for COVID-19-hit small and medium enterprises as well as exemption and reduction of personal income tax and corporate income tax.
