The Tan Thuan Export Processing Zone in HCM City's District 7.(Photo: VNA)HCM City (VNA) - HCM City is providing assistance to themanufacturing sector to sustain industrial growth.
It will amend the development plans for industrial parks (IPs), build a new IPmeasuring over 360ha for hi-tech industries, change start-up programmes, andcreate new support policies.
According to its Statistics Bureau, HCM City has more than 50,000 businesses inthe manufacturing sector or 13 per cent of all businesses in operation.
They include over 860 foreign businesses or 20.7 percent of the total.
The city-designated four major industrial sectors (mechanical engineering;chemicals – rubber – plastics; food processing, and electronics - IT industry)account for 9.86 percent of the city’s economy, and are growing at an averagerate of 9.22 percent a year compared to the city’s economic growth of 8.32 percent.
In 2016 – 20 the Index of Industrial Production (IIP) the four majorindustrial sectors has grown at an estimated 8.56 per cent annually comparedwith the average annual city industrial production growth of 7.86 percent, SaigonGỉai Phong newspaper reported./.
VNA
