Industrial production flourishes and grows again

Industrial production index increased by 2.4%

The report showed that the index of industrial production in September increased by 2.3% compared with August and by 3.8% over the same period last year. Generally, in the first nine months of 2020, IIP is estimated to increase by 2.4% over the same period last year, lower than the 9.6% increase of the same period in 2019. The Ministry of Industry and Trade assessed this as the lowest increase in for years.

The industry is expected to grow in the last months of the year

Some key industrial products in 9 months decreased and increased low compared to the same period last year. Specifically, the liquefied petroleum gas (LPG) decreased by 16.7%; beer down 14.6%; crude oil exploitation decreased by 13.7%; cars down 11.8%; natural gas gas decreased 9.1% ...

Among secondary industries, some industries have a 9-month production index decrease or a low increase compared to the same period last year. In which, production of motor vehicles decreased by 12.2%; crude oil and natural gas exploitation decreased by 11.4%; motorbike and motorcycle production by 8.9%; beverage production decreased by 6.6% ...

For example, for the group of textiles and garments, for the first nine months of 2020, fabrics made from natural fibers were estimated at 481.2 million m2, up 2.9%; production of textiles from synthetic fibers and artificial fibers was estimated at 730.9 million m2, down 8.5%; casual clothes is estimated at 3,266.9 million, down 6.2% over the same period. Export turnover of textiles and garments in 9 months was estimated at 22.06 billion USD, down 10.3% over the same period.

Under the impact of the Covid-19 epidemic, textiles and garments are one of the industries with the greatest direct losses, along with tourism, aviation, and footwear. The production and export situation of the textile and garment industry is still facing many difficulties. Total world textile and apparel demand in 2020 plummeted. In 2019, the world textile and garment import turnover is US $ 775 billion, due to the complicated and prolonged development of Covid-19, it is estimated that the total import turnover in 2020 will reach US $ 600 - 640 billion, down 15-20% compared to that of 2019, maybe even 25% reduction.

Notably, a number of industries had a high increase in the 9-month production index compared to the same period last year and made a great contribution to the overall growth of the industry. Typically, metal ore mining increased 14.8%; manufacturing electronic products, computers and optical products by 8.6%; Tobacco product production increased by 8.2% ...

Car production in September was estimated at 22,400 units, up 10.8% over the same period in 2019. Generally, in the first nine months of 2020, car production was estimated at 160,700 units, down 11.8% over the same period. .

Since the end of June 2020, with the State's support through tax reduction policies, registration fees have been creating a positive effect for domestic car manufacturers. The Ministry of Industry and Trade forecasts that car consumption in 2020 may decline, but only about 3-5% compared to 2019.

Continue to remove difficulties for production

The Ministry of Industry and Trade said that in order to remove difficulties for production and business, and promote economic growth in the last three months of 2020, the Ministry of Industry and Trade asked the Ministry's units to continue to focus on closely following the developments, situation, absolutely not subjective, proactive and ready to respond promptly and effectively to emerging changes and possible incidents; more drastically in the direction, administration and good coordination with localities to synchronously and effectively implement the proposed socio-economic development solutions; Industry and Trade Industry Action Plan aims to restore and promote industrial development.

Specifically for the textile and garment industry, at the end of the year textile enterprises need to compensate for the shortage of export orders by promoting exploitation of the domestic market; At the same time, minimizing the decline in revenue and profitability by managing production costs, maintaining product quality, rearranging production forces, identifying the main workforce to maintain employment. and income for employees to accompany enterprises to overcome the difficult period when the market has not yet recovered.

The Ministry of Industry and Trade has actively worked directly with relevant Ministries, sectors and agencies, at the same time working with the Vietnam Textile and Apparel Association, Vietnam National Textile and Garment Group, textile enterprises, and private companies. technology transfer, testing, quality certification, distribution units to facilitate, encourage and connect businesses to transform from textiles, garments to textile masks. Many textile and garment enterprises have switched to exporting splash-resistant fabric masks, antibacterial fabric masks, and ordinary fabric masks, to fully meet domestic epidemic prevention needs and stabilize the market.

In addition, the Ministry of Industry and Trade will focus on reviewing and timely solving problems for industrial products and production projects, especially in processing and manufacturing industries to improve production capacity. production and business expansion. In addition, will work closely with a number of multinational FDI enterprises (such as Samsung, Toyota ...) to strengthen the search for domestic manufacturers of raw materials and accessories capable of replacing sources of imports in the short term as well as in the long run.

In the last 3 months of 2020, the Ministry of Industry and Trade said it would focus on promoting production and business, domestic consumption, export and promoting disbursement of public investment capital to contribute to early economic recovery and development. - society in a new normal state.