HCMC’s industrial production grows 1.18 percent

The Department of Industry and Trade of Ho Chi Minh City said that in the first six months of this year, the city's industrial production index (IIP) still maintained a good growth rate, an estimated increase of 1.8 percent increase over the same period last year with four key industries, including electronics manufacturing, food, foodstuff, and beverage processing, chemicals, rubber, and plastic, and mechanics, estimated to increase by 2 percent.

Particularly, the electronics manufacturing industry saw the highest growth with 17.7 percent. Food, foodstuff, and beverage processing industry inched up 0.44 percent. Chemicals, rubber, and plastic industry was estimated to rally 9.04 percent. Meanwhile, the mechanics posted a sharp decrease of 12.1 percent.

Explaining this issue, the Department of Industry and Trade said that the electronics group increased heavily thanks to the stable and high consumption market and production orders. On the other hand, the report by Ho Chi Minh City Computer Association added that, during the time of social distancing, to serve the needs of studying and working from home, the consumption of computer products and internet services increased sharply to 200 percent-300 percent. Similarly, as for the food, foodstuff, and beverage industry, although exports decreased, domestic demand increased sharply. Preliminary statistics showed that retail sales of food and foodstuffs in the first six months of this year were estimated at VND68.55 trillion, up 11.2 percent while it rose 9.7 percent in the same period last year, accounting for 17 percent of total retail sales of goods.

Currently, the city has been implementing many solutions to support enterprises such as connecting industry associations to enhance trade, increase activities for online connection and e-commerce platforms for enterprises in the industry, connecting banks and enterprises to solve capital problems.