Key industrial sectors up and running amid COVID-19 threats
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Data from the Ministry of Industry and Trade (MoIT) show the industrial production index for May saw an increase of 1.6% compared to the previous month and an 11.6% climb against the same period from last year. This exhibits a positive sign of the national economy in the context that the latest COVID-19 outbreak has spread to dozens of cities and provinces, especially to industrial parks in Bac Giang and Bac Ninh provinces.
The MoIT says five-month industrial production witnessed an annual rise of 9.9%, of which the processing and manufacturing sectors enjoyed a boost of 12.6%.
Despite these positive signals, the local manufacturing and processing sectors have faced a number of risks, including a rise in raw material costs, alongside the negative impact of COVID-19 pandemic.
Pham Tuan Anh, deputy director of the Industry Agency under the MoIT, says the Ministry is fully focused on initiating major solutions aimed at creating higher added value for the processing and manufacturing industries.
The MoIT will co-ordinate alongside relevant ministries in order to formulate policies specifically for the development of a number of priority industries, such as the automobile, textile and garment, leather and footwear industry, electronics, minerals, and supporting industries, says Anh.
The main priority will be given to restructuring supply chain linkages in order to develop the industrial sector in a sustainable manner and to avoid reliance on some markets, he notes.
In addition, according to the official, localities nationwide should invest in industrial projects, especially those relating to the processing and manufacturing industries.
