Business

HCM City’s industrial production expected to enjoy breakthrough

Strong recovery of the domestic market and consumption demand and continuous growth of Ho Chi Minh City’s industrial production are assessed as positive signs allowing businesses to expect a breakthrough in the rest of 2022.
HCM City’s industrial production expected to enjoy breakthrough ảnh 1A business in Ho Chi Minh City (Photo: VNA)
HCM City (VNA) – Strong recovery of the domestic market and consumptiondemand and continuous growth of Ho Chi Minh City’s industrial production areassessed as positive signs allowing businesses to expect a breakthrough in therest of 2022.

A survey on business trends in the fields of processing andmanufacturing in the city shows that production and business activities in thesecond quarter of 2022 (Q2) compared to Q1 have improved, with 32% of enterprisessaying their business was better, 39.1% steady, and 28.9% moredifficult.

The forecast for the production and business situation in Q3is more positive compared to that of Q2, with 38.3% of enterprises assessingbetter, 39.3% stable, and 22.4% more difficult.

According to the municipal Department of Industry and Trade,the city’s Index of Industrial Production (IIP) in June 2022 increased by 5.2% month-on-monthand 11.5% year-on-year. The index in the first half of this year rose by 3.1%over the same period.

Chairman of the European Chamber of Commerce in Vietnam(EuroCham) Alain Cany said that Vietnam’s green growth potential is attractiveto European investors.

According to him, foreign investors’ confidence in theVietnamese market remains stable during turbulent times, therefore the FDI pouredinto the country has been maintained./.
VNA
#Ho Chi Minh City#industrial production#breakthrough#Vietnam#Vietnamplus#Vietnam News Agency
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