HCMC industrial index grows at fastest pace in 3 years

By Dat Nguyen   May 29, 2024 | 07:37 pm PT
HCMC’s Index of Industrial Production rose by 5.3% in the first five months, the fastest rate in the last three years, official data showed.

In had grown at 1.4% in 2023 and 3.7% in 2022, according to the HCMC Statistics Office.

Of the city’s four main industries, pharmaceuticals, food processing and mechanical engineering posted growth, while electronics contracted.

Exports increased by 14.2% in the period to $18.6 billion and imports by 6.3% to $22.8 billion.

Foreign direct investment fell by 17.1% to $950 million.

Public spending rose by 18% to VND10.9 trillion.

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