Ha Noi’s industrial production index surges by 5.12% in Q3

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The manufacturing industry grew by 4.93% year-on-year, while the electricity & gas production and distribution sector increased by 6.42%. Meanwhile, water supply and treatment of waste and wastewater expanded by 5.95% compared to Q3 2019.

Between January and September, the capital’s IIP recorded a year-on-year increase of 4.25%, the ministry reported.

Ha Noi’s IIP in September grew by 2.1% from the previous month and by 5.3% over the same period in 2019, with the manufacturing industry expanding 2.7% and 5.4%, respectively; the electricity production and distribution sector shrinking by 4.6% and increasing 4.9%; the water supply and waste & wastewater treatment industry growing 2.1% and 5.9%; and the mining sector increasing by 2% and declining 17.7%.

Industrial production activities gradually returned to normal and regained growth momentum from May. However, due to the resurgence of the pandemic, it is forecasted that industrial production in the last months of 2020 will be negatively affected, especially the processing and manufacturing industries and those manufacturing export products and using many imported raw materials.

In 2020, Ha Noi’s industry and trade sector has targeted an increase of over 8.8% in the added value of the industry compared to 2019, and a surge of over 8% regarding export revenues.

Taking advantage of opportunities

Along with the whole country, the capital has also implemented measures to restore and develop the economy to achieve a growth rate 1.3 times higher than the national average and completing disbursement of public investment and state budget revenues.

The city is also determined to reform the administration in order to create favorable conditions for businesses and investors, continue to support businesses and trading households in reducing the impact of Covid-19, and increase revenue sources.

By Vien Nhu