Five-month industrial production highlights

18:20 | 27/06/2015 Industry

(VEN) - The first five months of this year saw high and stable growth of output in most areas of the processing industry.

Five-month industrial production highlights

According to the Ministry of Industry and Trade (MoIT), the production index of the entire industrial sector increased 9.2 percent compared with the same time in 2014. While notably, the production index of processing and manufacturing industries grew 9.9 percent.

Textiles and garments topped the list of processing and manufacturing-related products in terms of output. Specifically, 118.2 million sq.m of fabrics woven from natural fibers, 287.1 million sq.m of fabrics woven from synthetic fibers, and more than 1.21 billion pieces of clothing were manufactured in the first five months. The export value of the textile and garment sector reached an estimated US$8.11 billion, up 8.4 percent compared with the first five months of 2014. Nearly 62 percent of textile and garment businesses have received export orders for the second quarter of this year.

In the first five months, 130.7 million pairs of leather footwear were produced, a rise of 24.8 percent compared with the same period last year. A General Statistics Office survey showed that 55.7 percent of leather and footwear businesses had received export orders for the second quarter of this year.

The first five months of 2015 stable production was also seen in other sectors such as milk, paper, fertilizer, and chemicals.

In the first four months, the sales index of processing and manufacturing industries grew 12.8 percent compared with the same period last year. Specifically, the sales of motorized vehicles increased 42.1 percent; electronic products, computers, and optical products up 31.4 percent; metals up 24 percent; and prefabricated metal products (except machinery and equipment) up 16 percent.

MoIT said that while the sales index of processing and manufacturing industries grew by 5.1 percentage points compared with the same period last year, their inventories increased by a mere 1.1 percentage points. These were positive signals of industrial production in 2015.

To facilitate industrial production, MoIT requested its member units to take timely measures to resolve difficulties for businesses so that they could expand production, thus improving the business environment and national competitiveness.

At the same time, it is necessary to promote the application of new, high technologies and reduce production costs to make Vietnamese industrial products more competitive in the domestic and global markets. The Buy Vietnamese Goods campaign will continue to be implemented to promote production and develop the domestic market.

MoIT member units should take action to tighten the links between manufacturing, processing and trading companies in order to promote domestic sales and exports. Propaganda will be intensified so that businesses know what opportunities and challenges will face them in the international integration process. Existing policies and mechanisms will be checked to eliminate barriers to businesses. Suitable support policies will be put in place to assist businesses in the international integration process.

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