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Industrial production index up 8.5 percent in February

Vietnam's index of industrial production (IIP) in February rose by 8.5 percent year-on-year, marking the fourth consecutive monthly increase, according to the Ministry of Industry and Trade (MoIT).
Industrial production index up 8.5 percent in February ảnh 1Illustrative image (Photo: VNA)
Hanoi (VNA) - Vietnam's index of industrial production (IIP) in February rose by 8.5 percent year-on-year, marking the fourth consecutive monthly increase, according to the Ministry of Industry andTrade (MoIT).

The processing and manufacturing industry, which accountedfor over 70 percent of total industrial output, still played a maindriver of the growth.

The ministry said the resumption of supply chains in key industries in thefirst quarter has helped remove bottlenecks in the manufacturing supply chain.

According to Tim Leelahaphan, economist for Vietnam andThailand at Standard Chartered Bank, Vietnam’s manufacturing activities have been provenresilient to shocks after reopening.

The MoIT said it is necessary to ensure the sufficient supply of raw materialsand energy to create momentum for, and meet the needs of production andbusiness recovery and socio-economic development in next months.

Attention should be also paid to resolving difficulties facing key industrial projects,and factories to help them maintain and recover gradually their productionactivities, it added./. 
VNA
#index of industrial production#Vietnam#industrial output#supply chain#production and business recovery#Vietnam#Vietnamplus#Vietnam news#Vietnam News Agency
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