Tuesday, July 23, 2019 3:07:51 AM - Markets open
VN-INDEX 982.04 -0.30/-0.03%
HNX-INDEX 106.76 -0.31/-0.29%
UPCOM-INDEX 58.01 +0.47/+0.82%
National index of industrial production up 9.4 pct in five months
VietnamPlus - 5/31/2019 11:18:01 AM
 (0 ratings. You must sign in to rate.)
Vietnam’s index of industrial production index (IIP) in May expanded 4.6 percent against the previous month and 10 percent year-on-year, the General Statistics Office said on May 29. 
In the first five months of this year, the index rose 9.4 percent year-on-year, lower than the growth of 10.3 percent recorded in the same period last year but higher than 7.4 percent and 6.6 percent in the corresponding time of 2016 and 2017. 
The processing and manufacturing sector, responsible for a large part of domestic industrial production, reported the IIP growth of 10.9 percent while the IIP growth of electricity production and distribution stood at 10.3 percent and that of water supply and waste-sewage treatment sector reached 7.9 percent. 
Meanwhile, the mining sector’s IIP dropped 0.1 percent year-on-year, according to the GSO. 
Some major industrial products achieved high production growth in the first five months, such as coke coal and refined mining products (84 percent), metal (40.5 percent), ore exploitation (14.9 percent), motor vehicles (14.7 percent) and rubber and plastic products (14.1 percent). 
However, others experienced slight growth or even declines in the IIP, such as electronics, computers and optical devices (up 3.1 percent); tobacco (up 2.6 percent); medicines, pharmaceutical chemicals and pharmaceutical material production (up 1.4 percent); production of other vehicles (down 2.3 percent); services in support of the mining industry (down 3.5 percent); and exploitation of crude oil and natural fuels (down 4 percent). 
The GSO said as of May 1, the number of labourers in industrial firms increased 1.4 percent month-on-month and 2.2 percent year-on-year. Employees in State-owned businesses contracted 0.9 percent while those in non-State and FDI enterprises rose 1.3 percent and 3.1 percent. 
During January-May, the processing and manufacturing sector attracted the largest amount of FDI, with total capital in new projects exceeding 4.7 billion USD, 73.5 percent of accumulated investment in new projects overall.   
Additional and new capital injected in the sector in the period was more than 7.01 billion USD, accounting for 77.2 percent of the total. 
Experts said the country’s industrial growth was driven by increases in the number of enterprises, investment capital and labourers. Meanwhile, productivity remained low and gaps with other countries like China, Malaysia, Indonesia, the Philippines, India, Thailand, Japan and the Republic of Korea continued to widen.
Industrial growth, especially the processing and manufacturing sector, still relied on FDI firms. 
Experts, therefore, suggested creating national branded and competitive products, integrating more deeply into global value chains and stepping up industrial structural reform.-VNA
Read original article here
Newer News
21/07 VN has trade surplus of about $1.6 billion in H1
20/07 Cashew export volume up more than 21 per cent in June
18/07 Trade pacts bring opportunities for seafood industry's sustainable growth
17/07 VN, South Korea trade, investment ties on strong footing: seminar
13/07 Japanese multi-sector group to expand operation in Vietnam
12/07 CPTPP boosts export opportunities in Japan
11/07 Việt Nam’s forestry sector targets US$11 billion in export
10/07 MoIT tightens supervision to avoid trade sanctions
05/07 Investment promotion conference held in London
04/07 Deputy PM requests control of CPI
Older News
31/05 Vietnam, Japan agree to expand economic bond
30/05 Vietnam, Czech Republic bolster economic cooperation
29/05 Bloomberg: Vietnam’s goods exports to US surge
29/05 Slow and steady mango export success
28/05 Take a chance on Việt Nam: PM Phúc wants Swedish investment
27/05 FDI reaches 16.74 billion USD
26/05 Industry has important role to overcome middle income trap in VN
25/05 Aquatic businesses feel windfall from CPTPP
24/05 Vietnam, US to augment ties in economy-trade investment, defence
24/05 Vietnam’s exports to Thailand shoot up
Newsletter Signup
Top Stories
VN has trade surplus of about $1.6 billion in H1
Trade pacts bring opportunities for seafood industry's sustainable growth
Credit institutions warned about P2P lending
CPTPP boosts export opportunities in Japan
Deutsche Bank's restructuring not expected to harm VN market
Market Update
Last updated at 3:10:05 PM
VN-INDEX 982.04 -0.30/-0.03%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.