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HCM City: Industrial production recovers strongly
Ho Chi Minh City’s industrial production has shown signs of bouncing back, announced the city’s Department of Industry and Trade.
In the first quarter of 2010, the total value of industrial production reached VND127,398 billion, up 13.7 percent compared to the same period last year.
The state-run sector represented 16.1 percent of the total value (Up 8.8 percent against last year’s figure), the private sector 45.8 percent (Up 15 percent), and the foreign-invested sector 38.1 percent (Up 15.2 percent).
In the reviewed period, HCM City’s economy also recovered considerably. Total Gross Domestic Product (GDP) rose by 11 percent compared to the same period last year. This is the first time the growth rate in the first quarter of a year has been higher than that in the fourth quarter of the previous year.
In the same period, the city’s import turnover increased by 16.9 percent, basic construction investment capital by 15.1 percent, and the consumer price index (CPI) by 9.6 percent.
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