Six-month industrial production decelerates year on year
The Index of Industrial Production (IIP) in the first half of 2016 grew by 7.5 percent from a year earlier, compared to the 9.7 percent recorded for the same period last year.
Workers produce bottled beverage at a factory of Suntory Pepsico Vietnam in Tra Noc 2 Industrial Park, Can Tho city (Photo: VNA)
Hanoi (VNA) – The Index of Industrial Production (IIP) in the first half of 2016 grew by 7.5 percent from a year earജlier, compared to the 9.7 percent recorded foꦬr the same period last year, according to the General Statistics Office.
The lower growth rate is attributable to contraction of the mining industry, which forms the biggest proportion of the industrial sector. The industry saw a 2.2 percent decrease from January through June, mainly due to a 6.1-percent decline in crude oil exploitation. That cut the IIP down by 0.5 percentage point.
The IIP growth was also dragged down by slowdown in consumer demand and political instability in some other countries that resulted in shrunken export markets, the General Statistics Office said.
Meanwhile, the processing and manufacturing industry, with a 10.1 percent increase, was the biggest contributor (7.1 percentage points) to the six-month industrial production.
Although expanding by 11.7 percent and 8.1 percent, electricity production and distribution, along with water supply and waste and waste water treatment only made up 0.8 and 0.1 percentage point of the total figure, respectively.
However, the prospect in the second half of the year is bright, as the processing and manufacturing industry continued to attract foreign investment this year, with a total of 8.06 billion USD poured into 488 new projects and 405 existing ones.
The expansion of processing and manufacturing will also stimulate the development of support industries, thus contributing to overall industrial growth.-VNA
Despite a gloom in the Purchasing Managers’ Index (PMI) in the region, Vietnam’s PMI continued to expand, reaching a ten-month high of 52.7 in May from 52.3 in the previous month.
Iron and steel product manufacturing posted stable growth over the first five months of 2016 with an output of more than 5.8 million tonnes, rising by nearly 1 million tonnes or 19.3 percent yearly.
The industry and trade sectors of the central and Central Highlands provinces are striving to raise their industrial production value to nearly 420.8 trillion VND (18.8 billion USD) in 2016.
The Index of Industrial Production (IIP) of Hanoi in the first half of 2016 rose by 7.7 percent from the same period last year, with June’s figure picking up 8 percent year on year.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Workers produce bottled beverage at a factory of Suntory Pepsico Vietnam in Tra Noc 2 Industrial Park, Can Tho city (Photo: VNA)
