Industrial production expands 2.7% in Jan-Oct period
13:10 | 29/10/2020

  VGP – Industrial production posted a year-on-year expansion of 2.7% in the first ten months this year, the General Statistics Office reported Thursday.

The main driver of the rise, manufacturing and processing, expanded 4.2%, followed by power generation and distribution (up 3.2%) while mining witnessed a decline of 8.1%.

Foreign investment inflows were estimated at US$23.5 billion, a year-on-year decline of 19.4%, said the GSO.

From January to October, 21,000 new projects were licensed with total registered capital of US$11.7 billion, down 32.1% and 9.1% in terms of the number of projects and capital volume respectively.

Just over 900 projects have increased their capital, by an additional US$5.71 billion, up 4.4% in capital.

Foreign companies invested US$6.11 billion in the reviewed period through capital contributions and share purchases, representing a year-on-year decline of 43.5%.

Processing and manufacturing remains the most attractive sector for foreign investors as it lured US$10.7 billion and representing 45.7%, followed by power production and distribution (US$4.8 billion).

Among the 109 countries and territories investing in the country, Singapore was the largest, with US$7.51 billion, followed by the Republic of Korea (RoK) with US$3.42 billion, and China with US$2.17 billion.

The Mekong Delta province of Bac Lieu retained its position as the largest FDI recipient, with US$4 billion. HCM City came second with US$3.7 billion, followed by Ha Noi with US$3.13 billion.

Exports by the foreign-invested sector (including crude oil) in the first 10 months are worth US$147.97 billion, or 97.6%of last year’s value, according to the Ministry of Planning and Investment.

Imports by the sector totaled US$117.56 billion, or 97%of the figure last year./.

By Hoang Ha

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