Vietnam Records 17 per cent Industrial Growth in 2006

Vietnam is estimated to generate total industrial production value of VND490.82 trillion ($30.68 billion) in 2006, a rise of 17 per cent against last year, recording the highest growth in the past ten years, reported the General Statistics Office (GSO).

 

December’s figure alone is estimated at VND49.39 trillion (US$3.08 billion), an increase of 18.8 per cent on-year.

 

Of all economic sectors, the private sector still leads in terms of industrial growth rate this year at 23.9 per cent reaching a value of VND147.28 trillion (US$9.2 billion), followed by the foreign-invested sector increasing 18.8 per cent to VND187.43 trillion ($11.71 billion), while state-owned businesses gained growth of only 9.1 per cent to reach VND156.1 trillion ($9.75 billion).

 

Ten out of the key industries achieved the highest growth including coal +18.7 per cent, soap +17.9 per cent, sanitary ceramic wares +17.3 per cent, seafood +17.2 per cent, phial medicines +17 per cent, assembled motorbikes +16.9 per cent, ready-made garments +14 per cent, electricity +13.4 per cent, silk +11.3 per cent and both cement and diesel engines +11 per cent.

 

Meanwhile, the bicycle industry sees the sharpest reduction at –51.1 per cent, followed by transformers –45.8 per cent and assembled automobiles –26.2 per cent.

 

Other industries witnessing a drop in industrial production value this year are electric fans –18.7 per cent, tablets –15.5 per cent, machine tools –10.9 per cent, cigarettes –9.1 per cent, crude oil –8.2 per cent, batteries –7.9 per cent, canned milk –7.6 per cent, electric engines –4.9 per cent, NaOH soda –3 per cent, assembled TVs –2 per cent, LPG –0.7 per cent and natural gas –0.3 per cent.

 

All major cities and provinces are estimated to obtain growth in their industrial production value in 2006.

 

Northern Vinh Phuc province ranks first with a growth of +25.6 per cent, followed by southern Binh Duong province at +25.3 per cent and northern Ha Tay province takes the 3^rd position with +23.3 per cent.

 

Meanwhile, the country’s two biggest cities Hanoi and Ho Chi Minh City rank 8^th and 11^th, respectively. At the bottom of the list is southern coastal Ba Ria-Vung Tau province at only +4 per cent. (GSO Dec 2006)