Industrial Production

Manufacturing and processing that accounts for 96.5% of total production value in the industry sector expanded 3.8% year-on-year during the seven-month period.

Vietnam’s molding and precision engineering industries generate revenue of over US$1 billion per year with annual growth of 18%.

While Hanoi’s agricultural sector is the least affected by Covid-19, a growth rate of 3.5% of the city’s Index of Industrial Production in the first half of 2020 is the second highest nationwide.

Not only financial means, Vietnam has also provided medical equipment and expertise to help Laos in the fight against the pandemic, said the Lao ambassador to Vietnam.

A positive growth rate of Hanoi’s industrial production in May led to an expansion of 2.6% year-on-year in the January – May period.

The low industrial output growth rate revealed difficulties faced by companies in the sector, especially those in manufacturing and processing.

Hanoi, however, remains firm on reaching the GRDP growth target of at least 7.5% in 2020.

For the eleven-month period, the mining industry growth declined by 21.9% year-on-year while manufacturing and processing was up 8.3%.