HCMC – The Index of Industrial Production (IIP) in HCMC has surged 26.9% year-on-year in January 2024, according to the city’s Statistics Office.
This growth is primarily fueled by the outstanding performance of the mining, manufacturing, and electricity industries. Mining recorded growth of a remarkable 33.9%, while manufacturing expanded by 27.2%.
The electricity sector grew by a sharp 31.1%. The water supply and waste treatment sector also saw growth, albeit at a more modest rate of 10.7%.
The substantial growth in four key industries contributed significantly to the overall IIP growth, with engineering leading the way at 43.1%, followed by chemicals and pharmaceuticals at 33.3%, food processing and manufacturing at 23.5%, and electronics at 7.4%.
In addition to industrial growth, retail sales of goods and services in January 2024 amounted to VND103.2 billion, up by 24.4% over the same period of the previous year.
The accommodation and catering services sector, along with the tourism industry, jointly generated VND13.2 trillion.
