Vietnam’s index of industrial production (IIP) in April is estimated to rise by 24.1 percent year-on-year, driven by the positive impact of free trade agreements (FTA), according to the General Statistics Office.
Vietnam's April industrial production increases by 24.1 percent (Photo: VNA)– Vietnam’s index of industrial production (IIP) in April is
estimated to rise by 24.1 percent year-on-year, driven by the positive impact of free trade agreements (FTA), according to the General Statistics Office.
The IIP in the first four months of 2021 enjoyed a year-on-year increase of 10 percent, boosted
by the growth of manufacturing and processing (12.7 percent), electricity
production and supply (6.6 percent), and water supply and waste and wastewater
treatment (7.5 percent).
Key industries that recorded high increases include metal production (37.9
percent), motorised vehicle production (32.9 percent), and furniture production
(17.6 percent).
On the contrary, the mining sector posted a decrease of 5.7 percent against the
same period last year.
The number of labourers working in industries as of April 1
rose by 1.5 percent month-on-month, and 1.8 percent year-on-year.
To address inventory and promote production, in the coming
time, the Ministry of Planning and Investment proposes localities continue
reforming administrative procedures, simplifying specialised inspection
procedures, and at the same time, implementing the Prime Minister’s Decision approving
the Action Plan on improving competitiveness and developing logistics services.
Sectors are advised to focus on supporting the development
of the domestic markets, studying consumption stimulus policies for
locally-made products, and developing supporting industries./.