Manufacturing, processing sector: key driver for industrial growth

The Hanoitimes – The soar in manufacturing and processing has been considered a key driver to boost the growth of the entire industrial sector last year, said Minister of Industry and Trade Tran Tuan Anh. According to Anh, the nation’s index of industrial production (IIP) last year experienced a significant year-on-year increase of 9.4 per cent, much higher than 7.4 per cent rise seen in the previous year and also surpassed the yearly target of 7.1-8 percent.     Electronics, computer and optical products reported a surge of 33 percent last year The impressive growth was fuelled by the processing and manufacturing industry, which rose by 14.5 per cent year-on-year, the highest level over the past six years, Anh said. Reports from the General Statistics Office also showed that the IIP could enjoy a stronger growth last year without a remarkable reduction of 7.1 per cent recorded in the mining sector. Meanwhile, two others — electric production and distribution and water supply and waste treatment – rose 9.4 per cent and 8.7 per cent, respectively. Several sectors also recorded a surge in IIP, such as electronics, computer and optical products (33 per cent), metal manufacturing (18 per cent), rubber and plastic products (14 per cent) and paper production (10.2 per cent). Among key industrial products with high IIP increases in 2017 included raw steel and iron (32 per cent), television sets (31 per cent), fabric (12.6 per cent) and urea (10.4 per cent). However, some products saw lower growth rates,… [Read full story]


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