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Domestic industry recovers strongly 2009-10-31 - VOV

Total industrial production value reached nearly VND569 trillion in the past ten months, an increase of 7 percent compared to the same period last year, the Ministry of Industry and Trade has announced.

The non-state sector saw the highest rate of increase at 8.9 percent, followed by the foreign invested sector (7.4 percent), while regional industrial production saw a decrease of 4 percent.

These figures showed signs of industrial production springing back to life since the beginning of the second quarter.

The price of materials for production such as electricity, crude oil, coal and gas also went up. Some consumer items such as air conditioners, refrigerators, detergents and construction materials rose as much as 19.5-48.5 percent.

Some exported items including garments and textiles, powdered milk, cotton, agricultural products and buses saw a drop due to the global economic recession.

The Ministry of Industry and Trade has encouraged businesses to use domestic materials in the production of competitive products and continue to implement the campaign “The Vietnamese buy Vietnamese products.”

The Ministry will strictly control the consumer market to iron out snags and ensure a stable supply of crucial products like petrol, fertilizer, steel, print paper, cement, rice and pharmaceuticals.

Firms in the steel industry have decided to accelerate production to meet the high construction demand at year’s end. The Vietnam Steel Corporation and other steel companies have reduced the price of their steel to boost consumption. This shows their confidence in the government’s demand stimulus programme.

Fertilizer companies are going into full production in the preparation for the Spring-Winter crop.

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