Industrial production increases 4.2 per cent

May 26, 2012 | 15:03

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The index of industrial production (IIP) in the first five months of this year rose 4.2 per cent over the same period last year, the Ministry of Planning and Investment said on May 25.

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The inventory of some products still stood at a high level, a year-on-year increase of 29.4 per cent, specifically cement, mortar (52 per cent), engine vehicles (56.5 per cent), motors (42.3 per cent) and beer (29 per cent).

According to reports at the ministry’s meeting, the total value of ODA agreements reached $2.1 billion while the disbursed capital achieved $530 million, accounting for 25 per cent of the whole year’s plan. In five months, the country attracted $5.33 billion of foreign investment, only 68.2 per cent of the same period last year, and $4.5 billion were disbursed.

A total of 30,100 new enterprises were established nationwide in the period, with a total registered capital of VND190 trillion, resulting in a year-on-year decrease of 12.2 per cent in number of enterprises and 3.6 per cent 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.

VIR/VNA

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