Industrial value grows by 20 percent in first half

Long Thanh phosphatic fertilizer plant

Foreign-invested enterprises (FIEs) contributed most to the overall industrial growth of the province. The IAV for FIEs in the first half year hit 13,240 billion VND or up 22.2 per cent, it made up 52 per cent of year target. In which, respectively during the same period, the food and drinks industry rose by 27.5 per cent to stand at 2,196 billion VND; textile industry increased by 30.7 per cent to hit 1,874.6 billion; leather and shoes industry grew by 18.5 per cent to reach 2,037 billion VND; chemical industry rose by 17.2 per cent to hit 1,165.7 billion VND and so on. Increasing production and stable consumption benefit to large companies, this also promotes industry growth. At the same time, more new FIEs were set up in the province such as Amada, Chao Chin, Shun Jin Vina, Tung Kong, Ho Hsiang, Textile and Dyeing Nam Phuong, Textile Sin Poong Vina etc. These enterprises are having a growing positive effect on industry growth.

The IAV for non-state enterprises rose by 22.5 per cent to stand at 3,000 billion VND, this accounted for 51.3 per cent of year target. Thanks to the province‘s increasing investment in infrastructure in industrial zones, the value-added output of mineral industry was up 30 per cent on annual basis. Despite the cattle feed industry effects of the H5N1 avian influenza outbreak, its IAV seen rising up 4.7 per cent. Wood processing industry was on the development of production due to enjoy a competitive advantage and better reception in foreign markets.

The IAV for state-controlled enterprises reached 2,977 billion VND, up 9 per cent on annual basis, it accounted for 45.3 per cent of year target. In which, electrical industry grew by 11.5 per cent to stand at 620 billion VND; chemical industrial increased by 28.2 per cent to hit 414 billion; building material industry rose by 17 per cent to reach 347.8 billion VND.

Output value of local state-owned industrial enterprises was 1,193 billion VND, increased 18.6 per cent, it made up 51 per cent of year target. Of which, that of food and drink industry reached 218.3 billion VND, up 39.4 per cent. Remarkably, Donafoods Company Ltd. saw a 63 per cent growth in consumption due to its diversified range of products and services for meeting customer’s demands as well as increase exports to world markets.

Although having difficulties with rising prices of raw materials, the local industry still accelerated growth on increasing of output value in the first half of this year. However, the IAV for some sectors dropped down from the growth rate of corresponding period of last year since many difficulties were faced in unstable consumption demands and power in uncompetitive export markets.

X. Phu