Industrial production increases 4.2%


The index of industrial production (IIP) in the first five months of this year rose 4.2 percent over the same period last year, the Ministry of Planning and Investment said on May 25. 
The inventory of some products still stood at a high level, a year-on-year increase of 29.4 percent, specifically cement, mortar (52 percent), engine vehicles (56.5 percent), motors (42.3 percent) and beer (29 percent). 
According to reports at the ministry’s meeting, the total value of ODA agreements reached 2.1 billion USD while the disbursed capital achieved 530 million USD, accounting for 25 percent of the whole year’s plan. In five months, the country attracted 5.33 billion USD of foreign investment, only 68.2 percent of the same period last year, and 4.5 billion USD were disbursed. 
A total of 30,100 new enterprises were established nationwide in the period, with a total registered capital of 190 trillion VND, resulting in a year-on-year decrease of 12.2 percent in number of enterprises and 3.6 percent in capital volume. 
At the meeting, Deputy Minister of Planning and Investment Cao Viet Sinh said that the economic situation has changed positively; however, it is not yet stable and lacks sustainability. In future, attention must be paid to the domestic market, to increase demand, stimulate consumption and reduce inventories.-VNA