Vietnam’s industrial production index up 22.2% in January

Vietnam’s index of industrial production rose by 22.2% in January as against the same month in 2020, demonstrating the sector’s strong growth, according to the General Statistics Office (GSO).

Bulb manufacturing at Dien Quang Lamp JSC (Photo: VNA)
Bulb manufacturing at Dien Quang Lamp JSC (Photo: VNA)

Manufacturing recorded the largest gain at 27.2%, followed by an increase of 16.3% in power generation and distribution.

Water supply and waste treatment climbed 8.4% while mining and quarrying declined by 6.2%.

Major industrial products with strong growth in January included television sets, phone parts, rolled steel, raw iron and steel, automobiles, cement, textiles from natural fibre and powder milk.

The number of workers in industrial enterprises as of January 1 increased by 1.1% against the previous month but fell by 1.4% compared to a year earlier, the largest drop being in the domestic private sector at 2.5%.

The head of the GSO’s industrial statistics department Pham Dinh Thuy suggested that ministries, agencies and local governments should continue carrying out reform so that enterprises can have prompt and easy access to support policies.

He also said it is necessary to assist the business community in looking for new markets for materials and spare parts, as well as encouraging people to prioritise buying local goods so as to help domestic firms overcome this difficult period.