HCM City remains top place in industrial production

Ho Chi Minh City continue to lead the country in industrial production in 2011 with a value of nearly VND740 trillion (USD35.17 billion).

Nguyen Van Lai, Director of the city’s Department of Industry and Trade, said the city contributed 42 percent of the industrial production value in the southern key economic zone and accounted for 27.4 percent of the country’s total.

Lai, however, pointed out that the growth has failed to bring higher economic value for the city as products’ added value remains low. The city is facing the problems of high-quality human resources shortage and an imbalance in labour demand and supply.

In 2012, the city targets to raise industrial production value by 19.2 percent to VND881 trillion (USD41.88 million).

The four spearhead industries, including mechanical manufacturing, electronics – information technology, chemicals – plastics and food processing, are to make up at least 57.5 percent of the total value of industrial production.

HCM City is home to about 86,000 factories, 15 industrial and export processing zones, one high-tech area, one software park and ten industrial clusters.

By 2015, the country’s economic hub aims to set up an additional seven industrial zones and 20 industrial clusters. Priority will be given to developing such sectors as garments and textiles, computer electronics, assembly production, manufacturing mechanics and supporting industry.