Hanoi industrial output rises

The capital’s industrial production has overcome the economic slowdown and shown signs of recovery.

The Hanoi Municipal Department of Industrial and Trade said the capital’s industrial production over the past seven months have increased by 5.1 percent year on year to nearly VND44 trillion.

Many businesses have even achieved growth rates of between 18-54 percent, including those involved in machinery, oil products, office equipment and chemicals.

Department deputy director Pham Duc Tien attributed the results to efforts by businesses, the Government’s stimulus packages and tax incentives and Hanoi’s policies.

The State Bank of Vietnam said commercial banks in Hanoi has so far lent nearly VND70 trillion under the Government’s interest subsidy programme, 80 percent of which goes to businesses.

Thong Nhat Motorcycle and Bicycle One’s deputy director Tran Nguyen Chau said his company’s revenue has increased by 18 percent and employee’s per capita income risen to nearly VND3 million a month.

vov, vietnamplus

>   RoK helps Vietnam in seaport declarations procedures (12/08/2009)

>   Vietnam faces severe power shortage for next few years (12/08/2009)

>   Big name phone brands under threat (11/08/2009)

>   Gov. should set an example in the ‘Buy Vietnam’ campaign (11/08/2009)

>   Danang suffering from boom town hangover (11/08/2009)

>   New decree offers more help to SMEs (11/08/2009)

>   Preferential finance needed for first oil refinery (11/08/2009)

>   Seaport project pilots Public/Private partnership (11/08/2009)

>   80,000 tonnes of pepper exported in seven months (11/08/2009)

>   PetroVietnam hastens plans for ethanol plants in centre, south (11/08/2009)