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Ho Chi Minh City
Tuesday, June 18, 2024

HCMC manufacturing sector rebounds

By Le Hoang

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HCMC – HCMC saw its industrial production index (IPI) in January-September increasing by 19.6% compared to the same period last year.

The HCMC Department of Industry and Trade said the city’s post-pandemic industrial output has recovered despite a global consumption fall and a material supply shortage.

In September, the city’s IPI rose by 1% versus August, but up 89.6% year-on-year.

The vibrant growth of key industries, namely mechanical and automation, electronic and information technology, chemical products and food processing, is expected to fuel overall industrial production in the rest of the year.

The city’s export revenue in September reached US$64.6 billion, rising by 22.8% compared to the same period last year.

The city’s January-September exports brought roughly US$40 billion, up 13.8% year-on-year, while its import bill hit US$48.8 billion, up 10.3%.

Some 223 wet markets, three wholesale markets, 236 supermarkets and 45 shopping centers have reopened since the lifting of Covid social distancing in October last year.

However, global supply disruptions, runaway inflation and falling world consumption still pose challenges to Vietnamese businesses for the rest of the year.

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