11-month index of industrial production rises 10.1%
Vietnam’s Index of Industrial Production (IIP) expanded 10.1% year-on-year in the first 11 months of 2018, according to the General Statistics Office (GSO).
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The central coastal province of Ha Tinh led the nation with IIP growth of 93.2% in the January-November period. The result was mainly thanks to the Hung Nghiep Formosa Ha Tinh Steel Company.
Meanwhile, Nghi Son oil refinery helped the central province of Thanh Hoa hold second position, with its IIP rising by 33.6%.
The capital city of Hanoi and Ho Chi Minh City reported IIP rises of 7.4% and 8%, respectively.
In November alone, the IIP increased 9.6% compared to the same period last year.
The processing and manufacturing sector reported the highest growth at 11%, followed by the electricity production and distribution, and the water supply and waste-sewage treatment sectors with 9.2% and 4.5%, respectively.
Notably, after a period of decline, the mining sector regained its growth momentum by 0.2% this month, the GSO said.
The IIP in the groups of private and foreign-invested enterprises respectively increased by 4.1%, and 3.4%. Meanwhile the State-owned sector reported a decrease of 0.9% in the month.
