Central region reports strong industrial growth

The figure, however, showed that the region, which consists of 14 provinces and cities, achieved just 45.6 per cent of the yearly target, the Ministry of Industry and Trade reported at a conference in the central coastal province of Quang Ngai on July 20.

The private economic sector played a key role in industrial production, contributing almost 48 per cent to the regional output. The sector registered a year-on-year increase of 18.2 per cent in industrial output value to over VND24 trillion in the first half of the year.

It was followed by the State economic sector, which made up almost 36 per cent of the regional industrial output by recording an output value of over VND18 trillion  or an increase of 8.4 per cent over the same period last year.

Foreign-invested businesses managed to increase industrial production output by 16.8 per cent year on year to over VND8.13 trillion, contributing 16.2 per cent to the regional total.

Retail sales were estimated at almost VND131 trillion (roughly $6.42 billion), representing a year-on-year rise of 25.5 per cent and a fulfilment of 52.8 per cent of the yearly target.

The region posted an export turnover of almost $2.71 billion, up by 30 per cent over the same period last year and achieving 53.1 per cent of the yearly target.

The trade deficit, however, was still a problem with the region’s import turnover up 63.4 per cent year on year to almost $3.5 billion, accounting for 59.4 per cent of the yearly target.

In an effort to solve the problem, the region has planned the “Vietnamese consumers use Vietnamese goods” campaign and vowed to crack down on smuggling and fraudulent trading as well as production and trading of faked and low-quality products.