Posted on 04 December 2007

 

Source: Vietnam Economic Times, December 3, 2007
Viet Nam’s industrial production reached 520 trillion VND (33 billion USD) in the first 11 months of the year, an increase of 17 percent over last year, according to the General Statistics Office (GSO).

Industries which recorded significant growth included beer brewing with 19.4 percent, machinery 74.5 percent, electric generators 26.2 percent, washing machines 24.7 percent, auto assembly 62.7 percent and motorcycle production 26.8 percent.

Meanwhile, the value of processed seafood with 13.2 percent, textiles and garments 14.9 percent, paper products 15.5 percent, cement 11.7 percent, rolled steel 10.2 percent and electricity production 12.9 percent has remained steady in line with current market demand.

Production growth has continued to rise fuelled by investment and the expansion of new markets.

The private sector saw the highest growth of 21percent, followed by the foreign-invested sector at 18 percent and the State-owned sector up 10.6 percent.

GSO economists have said that the growth of industrial production value could be higher given less exploitation of oil and gas resources. Crude oil extraction is below 14 million tonnes in the first 11 months of the year, an increase of 8.5 percent against the same period last year.

Several cities and provinces posted high growth in industrial production including Binh Duong province with 24.6 percent, Dong Nai with 22.4 percent, Vinh Phuc with 41.8 percent and Ha Noi with 19.9 percent. Ho Chi Minh City, the country’s economic hub, grew by 13.6 percent.

 

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