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Positive signs in production and trade (17/8)
17/08/2012 - 13 Lượt xem
According
to the Ministry of Industry and Trade's latest statistics, July's
industrial production index increased by 3.2 percent compared to June.
In the first seven months of this year, the index increased by 4.8
percent. Of which, the mining industry, manufacturing and processing
industries and power and gas production and distribution increased by
3.2 percent, 4.3 percent and 13.7 percent respectively. These figures
indicate that the industrial production index in the first seven months
registered a slight increase compared to the first half of 2012.
Deputy
Minister of Industry and Trade Nguyen Nam Hai when speaking at a
regular press conference said that July's industrial production index
revealed an increase compared to previous months, meaning that
difficulties in industrial production were gradually resolved. However,
the index in the first seven months was lower compared to the same
period last year, particularly in terms of manufacturing and processing
industries. Although the Government's preferential financial packages
have begun to have an effect, it is still necessary to adopt more
effective solutions to promote production in order to overcome
difficulties facing enterprises.
Although
industrial production increased slightly in July, purchasing power
remained weak. Total retail sales of goods and services in July reached
nearly VND190 trillion, an increase of 0.1 percent compared to June and
14.1 percent compared to the same month last year. In the first seven
months of this year, total retail sales reached nearly VND1,328
trillion, an increase of 18.7 percent compared to the same period last
year. If inflationary factors are excluded, the real growth in
purchasing power stood at just 6.8 percent.
Exports
continued to be the solution for domestic production. Export turnover
in July this year reached US$9.6 billion, an increase of 2.1 percent
compared to the same month last year. In the first seven months of this
year, total export turnover totaled more than US$62.93 billion, an
increase of 19 percent compared to the same period last year. Export
turnover of manufacturing and processing industries in the first seven
months stood at US$39.8 billion, an increase of 27 percent compared to
the same period last year, accounting for 63.2 percent of the
proportion of export sectors. In the context of an economic recession,
it was a positive sign of export turnover in manufacturing and
processing industries. Export turnover is expected to reach US$109.3
billion this year. To achieve this figure, it requires efforts in
promoting goods, releasing inventories and boosting production.
The
trade surplus in July reached US$100 million because export turnover
totaled US$9.6 billion while import turnover stood at US$9.5 billion.
The structure of the import sector is mainly raw materials serving
production. This figure represented efforts of the import sectors in
promoting investment in material production and reducing their
dependence on imports.
To
continue supporting enterprises in overcoming difficulties in
production, the Ministry of Industry and Trade held a conference in
July to harvest opinions from enterprises. The Ministry of Industry and
Trade proposed the State Bank to reduce mid-term interest rates below
12 percent per year; asking the Government to review lending rates for
the mechanical engineering sector since investment credit interest
rates currently stand at 11.4 percent per year and remain unattractive
to investors; and to allocate additional funding for trade promotion
activities. Deputy Minister of Industry and Trade Nguyen Nam Hai said
that a Ministry of Industry and Trade project would be issued next week
and issues related to the Government, the ministries and the State Bank
will be submitted to them respectively.
However,
resolving the difficulties facing domestic production cannot be
successfully implemented if it only rests on solutions proposed by the
Ministry of Industry and Trade. The project would require a consensus
of the State, enterprises and society. Therefore, the Ministry of
Industry and Trade has also proposed businesses actively seek methods
to relieve their inventories. Business associations should provide
suggestions and the Department of Industry and Trade should advise
local leaders in resolving difficulties facing enterprises./.
Source: VEN
Source: VEN
