HCM City’s industrial production up 13.3 percent in November
Ho Chi Minh City’s Index of Industrial Production (IIP) decreased 15.5 percent year-on-year in the first 11 months of this year despite growth of 13.3 percent in November, according to the municipal Department of Industry and Trade (DoIT).
HCM City (VNA) - Ho Chi Minh City’s Index of IndustrialProduction (IIP) decreased 15.5 percent year-on-year in the first 11 monthsof this year despite growth of 13.3 percent in November, according to the municipal Department of Industry and Trade(DoIT).
Most industries suffered a drop compared to the sameperiod last year, including beverage production, maintenance and installationof machinery and equipment, due to the impact of the COVID-19 pandemic.
Four key industries saw decreases in IIP in the 11-month period, withthe largest decline seen in the electronics manufacturing industry (down 18.7percent). It was followed by the food and beverage industry (15.1 per cent),mechanical industry (10.6 percent) and chemical and pharmaceutical industry(5.6 percent).
According to the DoIT, despite the fact that there was animprovement in November’s IIP against October’s figure, many key industriesstill had a negative index compared to the same period last year.
In response to the pandemic which saw complicateddevelopments and tended to increase again in the second half of November, the city's authorities have drastically adopted pandemic prevention and control measures, focusingon 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 supportbusinesses and workers meeting with difficulties. Other departments and agencies in the city have also coordinꦐatedto implement pre💦ferential loans for COVID-19-hit small and medium enterprises aswell as exemption and reduction of personal income tax and corporate income tax./.
More than 96 percent out of 1,412 companies located in industrial and export processing zones in Ho Chi Minh City have resumed operations with up to 80 percent of the total number of labourers back to work.
Some businesses in Ho Chi Minh City have been able to shrug off the difficulties caused by COVID-19 and achieve their targets thanks to thorough preparations.
Consumer price index (CPI) of Ho Chi Minh City in November decreased 0.17 percent over October, but rose 1.83 percent compared to the same time last year.
Vietnam’s industrial production index went up 5.5 percent in November compared to the previous month and rose by 5.6 percent year-on-year, reported the General Statistics Office (GSO).
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