April industrial production expands 24.1%
Vietnam’s index of industrial production (IIP) in April is estimated to rise by 24.1% year-on-year, driven by the positive impact of free trade agreements (FTA), according to the General Statistics Office.
The IIP in the first four months of 2021 enjoyed a year-on-year increase of 10%, boosted by the growth of manufacturing and processing (12.7%), electricity production and supply (6.6%), and water supply and waste and wastewater treatment (7.5%).
Key industries that recorded high increases include metal production (37.9%), motorised vehicle production (32.9%), and furniture production (17.6%).
On the contrary, the mining sector posted a decrease of 5.7% against the same period last year.
The number of labourers working in industries as of April 1 rose by 1.5% month-on-month, and 1.8% year-on-year.
To address inventory and promote production, in the coming time, the Ministry of Planning and Investment proposes localities continue reforming administrative procedures, simplifying specialised inspection procedures, and at the same time, implementing the Prime Minister’s Decision approving the Action Plan on improving competitiveness and developing logistics services.
Sectors are advised to focus on supporting the development of the domestic markets, studying consumption stimulus policies for locally-made products, and developing supporting industries.
