The nation\'s industrial production was estimated at nearly VND131 trillion (USD6.24 billion) in the first two months of the year, a rise of 14.6 percent over the same period last year, the General Statistics Office (GSO) announced last week.
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Foreign directed investment (FDI) accounted for the largest proportion of the figure, reaching VND55.5 trillion (USD2.6 billion) during the period, an increase of 16.6 percent.
The domestic private sector gained nearly VND48.7 trillion (USD2.32 billion), a surge of 17 percent, while State-owned enterprises accounted for VND26.7 trillion (USD1.273 billion), an increase of 7 percent.
Footwear, paint, metal fabrication and cement were among industries to see substantial growth in the period, while the petroleum industry and truck manufacturing saw declines.
Consumer products performed particularly well during the period, climbing 16.5 per cent in January alone, according to GSO expert Do Quang Ha – growth that reflected rising consumer confidence during the lunar new year holiday shopping season.
In the post-holiday period, growth in industrial production once again slowed. HCM City\'s industrial production was estimated at VND43 trillion (USD2 billion) in February, a decline of 16.8 percent from January\'s level, although the figure represented a 19.6-percent increase over the same period last year. In the first two months combined, the city\'s industrial production reached VND94.668 trillion (USD4.3 billion), a rise of 13.9 per cent.
The private sector saw the strongest growth in the city during the period, increasing by 17.5 per cent, while the foreign-invested sector saw growth of 13.5 per cent and the State-owned sector 6.9 per cent.
Twenty-four out of 27 industrial sectors in Ho Chi Minh City saw increases, led by steel production, up 35.7 percent; manufacturing, up 27.8 percent; construction materials, up 22.4 percent; and rubber products, up 19 per cent.
