Industrial Production Value Jumps 17 Per Cent in First Quarter

The industrial production value is estimated to reach VND45,188 billion (US$2.82 billion) in March 2007, up 17.3 per cent month on month and 15.4 per cent year on year. In the first quarter this year, industrial production value is projected at VND130,293 billion (8.14 billion), up 17 per cent on year.

The state-owned sector reported a 7.2 per cent increase but its contribution to the national industrial production value fell to 23.3 per cent. The private sector recorded the highest growth rate of 21.4 per cent and contributed 36.7 per cent to the total. The foreign sector increased 19.5 per cent and made up 40 per cent of the total. The strong growth of the private sector is partially attributed to the transformation of state-owned enterprises into joint stock and private companies.

After joining the WTO, Vietnam created favourable conditions for companies in the country to boost exports (especially electronics and computers up 17 per cent, electric cable and wires up 21.2 per cent, plastic products up 53.6 per cent, garment and textile up 30 per cent, enterprises, woodwork up 25.3 per cent, bags up 19.8 per cent and handcraft up 26.5 per cent).