Ho Chi Minh City’s IIP rises 2.1% in two-month period

February alone saw the index expand by 20% compared to the same period last year, mainly driven by the industrial production and mining industry, which recorded a three-fold annual rise, and an increase of 113% on-month.

Throughout January and February the southern city’s four key industries, including mechanics, electronics and information technology, chemistry and rubber, and food processing, picked up 9% from the same period last year.

The chemistry’s IIP recorded strong growth of 35.3%, while the mechanical industry witnessed an increase of 6.2%.

Furthermore, the food–beverage and electronic industries decreased by 1.5% and 13.2%, respectively.

Elsewhere, annual growth of 4.3% was also recorded in the group of traditional industries over the first two months of the year.

The city’s sales of products of the manufacturing and processing increased by 1% on-year during the reviewed period, while this sector’s inventory rose by 15.1% from last year.

Despite the emergence of new COVID-19 strains, Ho Chi Minh City’s industrial production gradually recovered and developed during the first months of the year.

Municipal authorities have therefore taken a range of specific mechanisms and policies aimed at supporting local businesses and labourers facing difficulties caused by the COVID-19 pandemic.