Industrial production continues to grow (13/9)
13/09/2013 - 10 Lượt xem
Mining
sector IIP fell by 5.2 percent, while that of the processing and
manufacturing sector increased 6.9 percent, electricity production and
distribution was up 8.4 percent, water supply and wastewater treatment
rose 9.5 percent. The IIP in the first eight months of this year was 5.3
percent higher than the same period of last year. The mining industry
went forward with 0.3 percent, the processing and manufacturing sector
increased 6.5 percent, electricity production and distribution was up
8.4 percent, water supply and wastewater treatment jumped 9.3 percent.
The
sales index of the processing and manufacturing industry in July 2013
was 0.9 percent higher than June 2013 and 14.1 percent up on July 2012.
The index in the first seven months of this year was 9.2 percent higher
than that of the same period last year. Motor vehicle production
increased 34.3 percent, electrical equipment manufacturing soared 23.4
percent and garment production knocked up 51.6 percent.
The
inventory index of the processing and manufacturing industry as of the
first of August was 9 percent higher than the same time last year.
Experts said an inventory index of 8-10 percent is normal. The inventory
index reflects production growth and has been gradually decreasing for
some time; the decrease is a good sign that ministries and sectors are
successfully solving recent problems, said Minister of Industry and
Trade Vu Huy Hoang.
IIP
of the processing and manufacturing industry continued to grow thanks
to increasing exports and the industry’s vital role to overall export
growth. In the first eight months of 2013, exports exceeded US$59
billion, up 25.6 percent against last year and accounting for 69.6
percent of the country’s total. Phones and accessories, computers,
electronics and components, textiles, garments, leather and footwear
remained leading exports.
Solving problems for industrial production
Mining
industry IIP in August 2013 was 5.2 percent lower than August 2012.
This was due to difficulties in the sale and export of certain products,
including coal. In early September, the Ministry of Finance decided to
decrease the coal export tax from 13 to 10 percent – the rate applied in
the first half of 2013. Vietnam National Coal-Mineral Industries
Holding Corporation Limited (Vinacomin) Deputy General Director Nguyen
Van Bien said the decrease is expected to improve coal production and
sales.
The
Ministry of Industry and Trade is working hard to solve problems in the
steel sector by issuing standards on imported steel alloys. Imported
construction steel from China was introduced to consumers at prices
lower than that of domestically made construction steel. Ministry of
Industry and Trade’s Department of Science and Technology Deputy
Director Nguyen Phu Cuong said the ministry will issue the new standards
in September. This is expected to help domestic steel businesses regain
their competitiveness.
Localities
are still active in realizing business promotion solutions. Ho Chi Minh
City Department of Industry and Trade Deputy Director Nguyen Phuong
Dong said the city emphasized activities that connected businesses with
banks to make it easier for them to access preferential loans; In the
first eight months of this year the city helped businesses get VND4.2
trillion; as a result, the city chalked up IIP growth of 5.5 percent;
outshining the country’s average.
Apart
from solutions proposed by management authorities, the Ministry of
Industry and Trade recommended businesses take the initiative in
upgrading production and increasing investment in technology to reduce
costs, improve competitiveness, and maintain production in the remaining
months of the year./.
Source: VEN
Source: VEN
