Illustrative image (Source: VNA)Hanoi (VNA) – Vietnam’s industrial productionindex grew 9.4 percent in 2017, well above the growth of 7.4 percent in theprevious year, driven by strong expansion in manufacturing-processing (14.5percent).
According to the General Statistics Office of Vietnam (GSO),high increases were also seen in electricity production – distribution andwater supply – waste management at 9.4 and 8.7 percent, respectively.
Only the mining sector saw an annual reduction of 7.1percent.
Director of the GSO’s Industrial Statistics Department PhamDinh Thuy said Vietnam’s industrial growth is mostly based on increases in the numberof enterprises, capital, and labour, while productivity, quality,effectiveness, and competitiveness remain low.
Highest increases across sub-sectors were seen in theproduction of electronic-optical devices (32 percent), metals (17 percent), andrubber-plastics (14 percent).
In regard of localities, Bac Ninh topped the nation with a 37.2percent growth in industrial production index, followed by Hai Phong (21.6percent), Thai Nguyen (18.1 percent), and Binh Duong (11 percent).
GSO General Director Nguyen Bich Lam stressed thatimprovement of labour productivity is the top priority for industrialmanufacturers in order to maintain growth.
As the country still has to depend on imports for productionmaterials, due attention should be paid to support industries to reduce thedependence and curb trade deficit, he added.-VNA
VNA
