ID :
66531
Fri, 06/19/2009 - 09:12
Auther :
Shortlink :
https://www.oananews.org//node/66531
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Industrial production estimated to increase
Hanoi (VNA) – Despite economic slowdown, industrial production in the country
during the first half of the year was estimated to increase 6.2 percent over the
same period last year, reaching 329.1 trillion VND (19 billion USD), said Deputy
Minister of Industry and Trade Bui Xuan Khu.
At a press conference in Hanoi on June 17, Khu said that with a 9.6 percent
growth rate, private firms made the largest contribution to the country’s
industrial production increase. Foreign invested firms followed with a growth rate
of 5.5 percent. Industrial production by State-owned firms, meanwhile, increased by
less than 3 percent.
Besides the efforts made by industrial firms to speed up investment and seek out the
consumer market, Khu also attributed industrial sector achievements to the positive
impacts from a series of government policies and measures to curb the economic
recession.
However, he also said that the 6.2 percent growth rate was much lower than that of
the same period in previous years. Due to the economic recession, industrial
producers had to shrink their production because of sales lags.
Khu also said the country’s import value during the period was negatively
impacted by slow domestic production. Imported materials and equipment, which are
used for domestic production, reduced by 10-20 percent.
Khu estimated that the country spent 30.64 billion USD on imports, down roughly 31.6
percent year-on-year, during this period.
Exports in the first half of the year were estimated to be down roughly 10 percent
over the same period last year, staying at 27.57 billion USD, he said.
Khu attributed the decrease in exports to price reductions of key export staples
including crude oil and agricultural products.
Consumer demand shrinkage in major markets was also a reason for the reduction in
export turnover. According to the Ministry of Industry and Trade, demand for
imported products in the USD declined 7 percent and the figures for the EU and ASEAN
were 10 and 6 percent, respectively.
The Government this year approved a growth rate target of 10 percent for the
industrial sector.
This calculates to industrial production totalling 711 trillion VND (42 billion
USD).
To meet the target, industry will have to achieve a 13.4 percent growth rate
in the second half of the year to offset the low 6.2 percent increase in the
first half.
Khu admitted that it would be hard for industry to meet the target, especially when
still hit significantly by negative impacts from the global economic
recession.-Enditem
during the first half of the year was estimated to increase 6.2 percent over the
same period last year, reaching 329.1 trillion VND (19 billion USD), said Deputy
Minister of Industry and Trade Bui Xuan Khu.
At a press conference in Hanoi on June 17, Khu said that with a 9.6 percent
growth rate, private firms made the largest contribution to the country’s
industrial production increase. Foreign invested firms followed with a growth rate
of 5.5 percent. Industrial production by State-owned firms, meanwhile, increased by
less than 3 percent.
Besides the efforts made by industrial firms to speed up investment and seek out the
consumer market, Khu also attributed industrial sector achievements to the positive
impacts from a series of government policies and measures to curb the economic
recession.
However, he also said that the 6.2 percent growth rate was much lower than that of
the same period in previous years. Due to the economic recession, industrial
producers had to shrink their production because of sales lags.
Khu also said the country’s import value during the period was negatively
impacted by slow domestic production. Imported materials and equipment, which are
used for domestic production, reduced by 10-20 percent.
Khu estimated that the country spent 30.64 billion USD on imports, down roughly 31.6
percent year-on-year, during this period.
Exports in the first half of the year were estimated to be down roughly 10 percent
over the same period last year, staying at 27.57 billion USD, he said.
Khu attributed the decrease in exports to price reductions of key export staples
including crude oil and agricultural products.
Consumer demand shrinkage in major markets was also a reason for the reduction in
export turnover. According to the Ministry of Industry and Trade, demand for
imported products in the USD declined 7 percent and the figures for the EU and ASEAN
were 10 and 6 percent, respectively.
The Government this year approved a growth rate target of 10 percent for the
industrial sector.
This calculates to industrial production totalling 711 trillion VND (42 billion
USD).
To meet the target, industry will have to achieve a 13.4 percent growth rate
in the second half of the year to offset the low 6.2 percent increase in the
first half.
Khu admitted that it would be hard for industry to meet the target, especially when
still hit significantly by negative impacts from the global economic
recession.-Enditem
