Industrial production surges in 2007 (03/01)
06/08/2010 - 26 Lượt xem
Total industrial production in 2007 was 17.1% higher than the previous year.
Private enterprises topped the list with a production increase of 20.9%, followed by foreign invested firms with 18.2%. State-owned enterprises, meanwhile, rose by only 10.3%, the GSO reported.
The GSO attributed the production surge of private firms to the ratification of the new Enterprise Law, which has encouraged the strong development of private sector. Under the law's preferential policies, the number of private firms have sharply increased in both quantity and quality.
Conversely, said the GSO, State-owned enterprises showed an insignificant rise due to the Government's policy of restructuring State-owned firms, turning them into joint stock companies, and merging or dissolving ailing firms.
In 2007, a number of industrial sectors reported high growth. Machine production surged by 69.8% while automobile production was up 52.8%.
Production of rubber and plastic, electric equipment and engines, footwear and motorbikes all increased by more than 20% on average.
With a growth rate of 19.1%, however, the processing industry contributed the highest rate to the country's total industrial production. The industry represented 86.1% of the country's total industrial production in 2007.
Meanwhile, mining industries reported unexpected results in 2007, down 1.1% over the previous year. Crude oil production reached only 15.5mil tonnes, a decrease of 7.8% over the previous year due to the restricted exploitation of the resource. Coal production in 2007 also had its slowest increase rate since 2001, up only 11.5%.
Industrial production in Vinh Phuc, Binh Duong, Can Tho, Dong Nai provinces and Hanoi reached the highest growth rates, ranging from 21.4% to 41.4%. Despite being the country's largest economic hub, HCM City industrial production reported an insignificant gain of only 13.8%.
Source: Viet Nam News
