Industrial production

Illustrative image (Photo: VNA) Hanoi (VNA) - The index of industrial production (IIP) in July was estimated to increase by 1.6%  over the previous month and by 11.2% over the same period last year, according to the General Statistics Office. The rise was thanks to a further reopening of the economy in the wake of COVID-19 disruptions . Output growth accelerated for most components, including manufacturing (12.8% against 9.9% in June); electricity and gas supply (8.7% against 5.5% in June); and waste treatment (9.2% against 6.3% in June). In contrast, mining output fell 1.5%, reversing from a 5.1% growth in June./. VNA … [Read more...] about Seven-month index of industrial production up 11.2%

The latest figures from Thai Nguyen Department of Statistics showed that the province further secured impressive growth in its industrial production in July, with the local industrial production index surging 9.6 per cent against the previous month and showing a 15 per cent jump on-year. The province is focused on export-oriented production and increasing the number of high-tech products, Photo: Le Toan Notably, the local processing and manufacturing industry rose 10.1 per cent against the previous month and fetched 16 per cent hike on-year. Generally, in the first seven months of this year, Thai Nguyen’s total industrial production index hiked 11.2 per cent on-year compared to 9.81 per cent growth in the previous month, with that of the processing and manufacturing industry rising 12 per cent on-year. During the period, top-performing groups of items were TV cameras with 52.4 million products, soaring 32.9 per cent; earing devices reaching 35.6 million pieces, showing … [Read more...] about Thai Nguyen’s industry continues impressive growth

A letter signed by Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan asks provinces and cities to review, amend, supplement and improve their industry promotion regulations, prepare local industry promotion programs for 2023 to 2025, develop technical and economic standards for industry promotion activities, create favorable conditions for local departments of industry and trade to help local people’s committees perform state management of industry promotion, and strengthen the inspection, supervision and evaluation of industry promotion activities. Helping rural industrial establishments recover and develop production and trading in the post-COVID-19 period is a task of departments of industry and trade According to the official letter, departments of industry and trade must ensure efficient, on-time implementation of their 2022 national and local industry promotion plans, help rural industrial establishments recover and develop production and trading in the … [Read more...] about Ministry facilitates rural industrial development

The capital city is committed to accompanying the business community in promoting industrial products using advanced and environmentally friendly technologies with high-added value. Hanoi is pushing for the development of industrial infrastructure and key industrial products, seen as the driving force for the capital city’s sustainable economic growth. Thang Long Industrial Park in Dong Anh District, Hanoi. File photo During the first six months of 2022, the municipal Department of Industry and Trade started the construction of six industrial parks and is working on accelerating 38 other projects in the city. For the 2021-2025 period, Hanoi aims for supporting industries to make up 30% of the total value of industrial production, an increase of 5% from the current level; raise the value of key industrial products to 40-45% of total industrial production, and expects 10% of businesses in Hanoi to stay among Vietnam’s top 500 companies. To realize this goal, … [Read more...] about Hanoi promotes industrial infrastructure development for sustainable growth

Ngo Khai Hoan, Deputy Director of the Vietnam Industry Agency Ngo Khai Hoan, Deputy Director of the Vietnam Industry Agency: Industrial production recovers strongly With the government’s decision to switch from “Zero COVID-19” to safe and flexible adaptation to the pandemic, industrial production has seen strong recovery and has been restored to pre-pandemic levels, especially the manufacturing and processing sector. The added value of the industrial sector increased by 8.48 percent in the first half of 2022 compared to a year ago. The index of industrial production (IIP) grew by 8.7 percent in the first half of the year, with the manufacturing and processing sector going up by 9.7 percent. Almost all localities saw IIP increases, with high rates recorded in the provinces of Bac Giang, Bac Ninh, Quang Nam and Binh Phuoc. --------------------------------------------------------------------------- Tran Duy Dong, Director of the Domestic Market Department … [Read more...] about First-half industry and trade highlights

The department launched the second phase of a network of industry promotion collaborators operational since March 2022. In 2022, Dong Nai Province was allocated VND17.331 billion to realize industry promotion activities, including seven key tasks – support for 15 rural industrial manufacturers in applying advanced machinery and equipment to industrial and handicraft production, provincial recognition for 20 outstanding rural industrial products and assistance for one rural industrial establishment to open a product showroom, support for joint ventures, economic cooperation, industrial zone development and relocation of polluting establishments. Introducing OCOP products of Dong Nai Province The department has found solutions to help rural industrial establishments take advantage of market opportunities and effectively confront difficulties. The province is realizing industry promotion activities according to an approved plan, including organization of startup and … [Read more...] about Dong Nai Province boosts local industry

Billion-dollar strategy While visiting THACO Chu Lai Industrial Zone at the end of March 2022, Prime Minister Pham Minh Chinh assigned THACO three essential tasks, one of them being to continue developing the mechanical industrial zone to meet foundation industries requirements. To carry out this task, Supporting Industrial and Mechanics Corporation - THACO Industries (under THACO Group) has continued to invest in expanding its scale, improving production capacity, boosting exports, and setting a target revenue of $1 billion by 2025, of which export is $500 million. THACO Industries factory in Chu Lai Industrial Zone. Photo by THACO Industries THACO Industries has identified 2022 as the hinge year for establishing the foundation for a leap forward in mechanical and supporting industry business. The company has set out a comprehensive plan, from investing in core technology, and developing diversified products to digitalizing management... aiming to reach the … [Read more...] about THACO Industries targets revenues of $1 bln by 2025

The capital city's cultural industry will become a major economic sector. The Hanoi People's Committee has issued a plan on Developing the Cultural Industry in the capital city for the period of 2021-2025, with an orientation to 2030 and a vision to 2045, in which, the industry would contribute around 5% of the city's GRDP. The plan defines specific responsibilities and mechanism for closer cooperation among departments, agencies, people's committees of districts and relevant units to fulfill the target. Dragon dance on Hanoi street. Photo: The Hanoi Times Hanoi aims that by 2025, the capital city's cultural industry will become an important economic sector, creating a new driving force for economic, cultural and social development; honoring and developing the brand "City for Peace" or "Creative City". Therefore, Hanoi will focus on developing a number of sectors that have advantages and potentials, including cultural tourism, handicrafts, performing … [Read more...] about Cultural industry to contribute 5% of Hanoi’s GRDP by 2025

Despite being levied high duties, Thai cane sugar products still flood the market due to signs of safeguard evasion through other countries. (Photo: SGGP) The MoIT affirmed that Decision No.1514 on the application of safeguard measures to prevent trade remedies evasion was issued based on an investigation that was carried out objectively and transparently following the provisions of domestic laws and in line with international commitments. On the basis of collecting and summarizing information and opinions provided by relevant parties, including the domestic manufacturing industry, foreign manufacturing and exporting enterprises, importing enterprises, and competent authorities, the investigation determined that the use of sugar materials originating from Thailand to produce and export some cane sugar products to Vietnam by enterprises from Cambodia, Indonesia, Laos, Malaysia, and Myanmar is the act of evading anti-dumping and anti-subsidy measures applied to Thai sugar products. … [Read more...] about Vietnam imposes safeguard duties on sugar products from five more countries

Phung Duc Tien, deputy minister of Agriculture and Rural Development Amid increasing pork prices, the Ministry of Agriculture and Rural Development has been implementing solutions to remove difficulties and promote production. Therefore, the livestock industry is expected to ensure supply from now until the end of this year. Phung Duc Tien, deputy minister of Agriculture and Rural Development, spoke to local media about the solutions to meet food demand and curb CPI in the last months of 2022. Is the food supply sufficient from now until the Lunar New Year? In 2021, Viet Nam's meat production reached 669 million tonnes. By the end of July 2022, the livestock industry saw an increase of 4.8 per cent in pig heads, 1.6 per cent in heads of poultry; and 2.6 per cent of cow heads. Meanwhile, the buffalo herd in 2021 decreased by 2.5 per cent but so far, it has only reduced by 1.1 per cent. Thus, the industry is expected to produce over seven million tonnes of meat, 18.4 … [Read more...] about Livestock sector promotes production to ensure supply and price stability