Tuesday, November 19, 2019 4:01:15 AM - Markets open
VN-INDEX 1,002.91 -7.12/-0.70%
HNX-INDEX 105.15 -0.88/-0.83%
UPCOM-INDEX 56.91 -0.09/-0.15%
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
18/11 Steel products experience slow consumption in October
17/11 Household businesses to be regulated: NA deputies
16/11 Steel products experience slow consumption in October
13/11 Vietnam urged to promote circular economy
11/11 Vietnam’s exports estimated at 217.05 bln USD in 10 months
09/11 Livestock exports expected to fetch US$1.2 billion this year
07/11 Vietnam’s export tunover surges 7.4 percent in 10 months
03/11 Vietnamese telcos target 5G chipsets and devices
02/11 US forecasts bright outlook for trade with Việt Nam
02/11 EVFTA must bring benefits to people: INTA chief
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
VN30 firms take 92% of all top listed firms’ total Q3 profits
Reference exchange rate unchanged on November 13
VN-Index slides for second day
Reference exchange rate reverses downward trend on October 23
Prices of Grade A office space rise due to low supply
Market Update
Last updated at 3:10:01 PM
VN-INDEX 1,002.91 -7.12/-0.70%
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...
Portfolio
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.