In the January-October period, industrial processingand manufacturing contributed 4.9 percent to the increase, whileelectricity production and distribution contributed 0.6 percent, andwater supply, waste and liquid treatment, 0.1 percent.
Therecovery was also seen in the employment index at industrial companies,recording a 4.4 percent year-on-year rise as of October 1.
Arise in the import of materials and machinery for production in the tenmonths further testified to the recovery of domestic production.
Inaddition, the inventory index of the manufacturing and processingindustry as a whole increased by only 9.7 percent from the sameperiod last year as of October 1. Of which, some sectors even sawremarkable declines: the inventory index of electronic accessoriesfell 74.9 percent; motor vehicle production, 48 percent; and cement,nearly 44 percent.
According to economist Vu Dinh Anh, thebelow-10 percent inventory index at this time is an optimistic sign forthe economy in comparison to that from last year.
The Ministry ofIndustry and Trade forecast that the inventory will decline in theremaining months of this year because demand usually goes up in thisperiod and businesses ship goods to fulfil their orders, particularlythe apparel and footwear sectors.
At the ministry’s recent videoconference, Deputy Minister Ho Thi Kim Thoa said that to meet the 2013target, the ministry’s departments and agencies should focus on tappingthe domestic market’s demands, while strengthening goods distributionsystems nationwide.
Apart from maintaining traditionalexport markets and developing new markets, businesses need to proposedetailed solutions to ease difficulties in production.
Boostingindustrial production is considered as a key factor to develop thenational economy as pointed out in the 2011-2020 Socio-economicDevelopment Strategy, 2011-2015 Socio-economic Plan and Socio-economicPlanning for 2013.
To create a breakthrough in industrialproduction, it is necessary to invest in key industrial centres as wellas key industrial products. This may be the best solution to boost thecountry’s ec🐲onomy in the final months of this year and create momentumfor the first quarter of next year.-VNA
Steel trading businesses st🌄ruggle as industry giants return
With rising protectionist policies for the steel industry, and the US imposing tariffs on steel exports, the sector has entered a challenging period. In response, many industry giants are returning to the domestic market.
