In June, the IIP rose by 13 percent in the processing and manufacturing sector. (Photo congthuong.vn)Hanoi (VNS/VNA) - The Ministry of Industry and Trade (MoIT) will focuson removing difficulties in industrial sectors in the second half of this year,especially the processing and manufacturing industry, to expand production andbusiness.
It plans to work closely with foreign-invested firms such as Samsung and Toyotaand search for local producers to make raw materials and components to replaceimports.
The ministry has suggested localities develop material production regions,industrial parks and economic zones to ensure they have raw materials fordomestic production.
It will also propose preferential policies for the textile and footwearindustries as well as other sectors that have suffered greatly from theCOVID-19 pandemic. It will build incentive mechanisms for the production ofmaterials for those sectors.
The MoIT predicts that in the second half of the year, the domestic electronicsindustry will still be greatly affected by the pandemic that could reducedemand for electronic products in the US and Europe.
Samsung Vietnam is expected to reduce its export target to about 45.5 billionUSD, lower than the export value of 51.38 billion USD in 2019.
However, the ministry observes that many countries worldwide have highlyappreciated Vietnam's disease control. This is considered an important factorto attract more foreign investment into Vietnam after the pandemic ends. Thatwill help Vietnam boost growth in production and exports in the future.
The MoIT reported the index of industrial production (IIP) in June increased by10.3 percent compared to the previous month. Of which, the IIP rose by 13 percentin the processing and manufacturing sector, 6.5 percent in the electricityproduction and distribution, and 4.4 percent in water supply and wastewatertreatment compared to the same period in 2019.
Meanwhile, the index of the mining industry in June decreased by 3.7 percentfrom a year prior.
During the first six months of this year, the national IIP increased by 2.8 percentcompared to the same period last year. The index surged by 4.6 percent for theprocessing and manufacturing industry and 2 percent for the electricityproduction and distribution.
There were many difficulties in importing material from China in the first sixmonths, especially in the electronic sector, the ministry said, but with areasonable balance of production and business, the electronic sector gainedgrowth in the IIP and exports compared to the same period of 2019.
The IIP for electronic products, computers and optical products in Juneincreased by 29.3 percent over the previous month and by 21.7 percent over thesame period last year.
This index for the first six months rose by 9.8 percent year-on-year. It washigher than the growth rate of 3.5 percent in the first six months of 2019./.
It plans to work closely with foreign-invested firms such as Samsung and Toyotaand search for local producers to make raw materials and components to replaceimports.
The ministry has suggested localities develop material production regions,industrial parks and economic zones to ensure they have raw materials fordomestic production.
It will also propose preferential policies for the textile and footwearindustries as well as other sectors that have suffered greatly from theCOVID-19 pandemic. It will build incentive mechanisms for the production ofmaterials for those sectors.
The MoIT predicts that in the second half of the year, the domestic electronicsindustry will still be greatly affected by the pandemic that could reducedemand for electronic products in the US and Europe.
Samsung Vietnam is expected to reduce its export target to about 45.5 billionUSD, lower than the export value of 51.38 billion USD in 2019.
However, the ministry observes that many countries worldwide have highlyappreciated Vietnam's disease control. This is considered an important factorto attract more foreign investment into Vietnam after the pandemic ends. Thatwill help Vietnam boost growth in production and exports in the future.
The MoIT reported the index of industrial production (IIP) in June increased by10.3 percent compared to the previous month. Of which, the IIP rose by 13 percentin the processing and manufacturing sector, 6.5 percent in the electricityproduction and distribution, and 4.4 percent in water supply and wastewatertreatment compared to the same period in 2019.
Meanwhile, the index of the mining industry in June decreased by 3.7 percentfrom a year prior.
During the first six months of this year, the national IIP increased by 2.8 percentcompared to the same period last year. The index surged by 4.6 percent for theprocessing and manufacturing industry and 2 percent for the electricityproduction and distribution.
There were many difficulties in importing material from China in the first sixmonths, especially in the electronic sector, the ministry said, but with areasonable balance of production and business, the electronic sector gainedgrowth in the IIP and exports compared to the same period of 2019.
The IIP for electronic products, computers and optical products in Juneincreased by 29.3 percent over the previous month and by 21.7 percent over thesame period last year.
This index for the first six months rose by 9.8 percent year-on-year. It washigher than the growth rate of 3.5 percent in the first six months of 2019./.
VNA
