HCM City’s industrial production rebounds

The non-State sector saw an increase of 7.3%, and the foreign-invested sector 7%.

Among 27 industries, 20 continued to keep their year-on-year growth and some of them increased sharply, namely foodstuff and beverage 10.9%, wood processing 16.2%, chemical 23.3%, and building materials 15.5%.

The higher industrial production is attributed to investment and consumption stimulus packages implemented by the Government and the city.

Until July 15, the city had disbursed over VND 76 trillion of soft loans under the Government’s stimulus package. The local stimulus package of VND 5 trillion mainly served new construction projects, technological renovation and equipment purchase for production expansion.

Since the stimulus program was started on March 8, a total of 28 projects have benefited directly from it with loans totaling VND 3.8 trillion and the sum of subsidized interest rate worth nearly VND 1.6 trillion.

By Ngọc Vân