Vietnam's Index of
Industrial Production (IIP) increased 4.9 per cent over the first quarter last
year, a record three-year low.
General Statistics Office (GSO) experts attributed the
low increase to declined production in the processing and manufacturing
industry, which accounts for nearly 71 per cent of the country's total
industrial production.
The production of televisions decreased more than that
of any other product, dropping 12.1 per cent to 504,000 units. Textile industry
output reached only 190.1 million square metres, down 11.3 per cent, while
seasoning powder decreased 6.5 per cent to 58,900 tonnes.
However, production enjoyed strong growth in several
sectors: urea fertilizer, which grew 94.2 per cent, mobile phones, which went
up by 20.6 per cent, and motorbikes, which rose 13.7 per cent.
The industrial sector's inventory index stood at 16.5
per cent, down 3.5 per cent from the previous month.
However, the GSO said that the slowdown was not
because of increased consumption but rather because industrial producers turned
to other sectors or sold off products to retrieve capital.
To overcome these difficulties, experts recommended
industrial producers restructure production so they could churn out
high-quality products and sell them to a wider market.
They also suggested the government provide firms with
easier access to capital and improve tariffs and the business environment.
Viet Nam News
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