Vietnam HCMC Q1 Industrial Production Value +1.9 per cent at VND94T

Vietnam’s biggest economic hub, Ho Chi Minh City’s industrial production value reportedly reached VND94 trillion in the first three months of this year, up 1.9 per cent on year.

 

Of the total, the foreign-invested sector saw a growth rate of 6.5 per cent, while the domestic-invested sector fell by 4.5 per cent.

 

In the quarter, 195 businesses in the country’s southern economic hub had to cut their production or close due to impacts of the economic downturn, resulting in an increase in the number of laid-off workers.

 

In the period, the city has granted subsidized loans worth VND150 billion for businesses and provided an additional VND145 billion to the credit guarantee fund for small and medium enterprises to promote production and generate more jobs for local workers. (VoV, The People)