- 28 July 2021
Manufacturing leads the growth of the whole industry
In the first six months of 2021, the added value of the whole industry increased by 8.91% over the same period last year. The processing and manufacturing industry increased by 11.42%, continuing to affirm the leading role in the growth of the whole industry.
According to a report published by the General Statistics Office on the morning of June 29, 2021, industrial production in the second quarter of 2021 grew quite well because the business activities of enterprises were maintained and gradually recovered added value reached 11.45% over the same period last year. In the first six months of 2021, the industry’s added value increased by 8.91% over the same period last year (in the first quarter, it increased by 6.29%; in the second quarter, it increased by 11.45%).
The consumption index of the entire processing and manufacturing industry in June 2021 increased by 4.9% over the previous month and by 4.2% over the same period last year. In the first six months of the year, the consumption index of the whole processing and manufacturing industry increased by 9.3% over the same period last year.
Notably, in the report also said that in the first 6 months of this year, the most significant foreign direct investment in the production and distribution of electricity, gas, hot water, steam, and air-conditioning was newly licensed with registered capital of nearly 5 billion USD, accounting for 52.3% of total newly registered capital; processing and manufacturing industry reached 3.1 billion USD, accounting for 32.4%.
The factors that determine the positive growth rate of the processing and manufacturing industry in 2020 in the context of the economy is heavily impacted by the Covid-19 epidemic can be mentioned as follows:
Firstly, the Government has taken drastic action in directing and promulgating many policies and timely solutions to assist enterprises in minimizing damage, removing difficulties, stabilizing and developing production and business. Second, the Covid-19 epidemic is better controlled in Vietnam. Third, in 2020, Vietnam is one of the leading countries to participate in many EVFTA international trade agreements. Fourth, the year 2020 will record an impressive number of exports of Vietnamese industrial products, which is an essential factor in stimulating the strong development of the processing and manufacturing industry despite a sharp decline in global exports due to the adverse impact of the Covid-19 pandemic.