Industrial production up 3.6 percent in 11 months

Illustrative image (Photo: VNA)

Vietnam’s industrial production index went up 5.5 percent in November compared to the previous month and rose by 5.6 percent year-on-year, reported the General Statistics Office (GSO).

On a 11-month calculation, the index rose by 3.6 percent annually.

As localities are following the Government’s Resolution No.128/NQ-CP dated October 11, 2021 on safely and flexibly adapting to and effectively controlling COVID-19 pandemic, the manufacturing and processing sector grew by 4.8 percent, electricity manufacturing and distribution up 3.8 percent, and water supply and wastewater treatment up 3 percent. The mining sector contracted by 6 percent.

Several sectors saw higher growth than the same period last year, including metallurgy up 23.4 percent, motorised vehicle production up 10.7 percent, coal and refined oil products up 9 percent, and textile up 8.3 percent.

As of November 1, the number of workers in industrial parks (IPs) rose by 3.3 percent monthly and dropped by 2.6 percent annually.

GSO Director General Nguyen Thi Huong suggested ministries, agencies and localities actively build plans for safe production and trade in adaptation to the pandemic, especially in concentrated IPs.

She proposed localities adopt active and flexible monetary and fiscal policies to maintain macro-economic stability and control inflation.

The State Bank of Vietnam also needs to make it easier for firms to access credit to restore their operations, she said./.