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Vietnam’s index of industrial production (IPP) rose by 10.9% in the first seven months of 2018, compared with the 7.1% increase reported in the same period last year. |
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The manufacturing sector posted a growth rate of 13.1%, power generation and distribution 10.7% and water supply and waste treatment 6.6%, while the index for activity declined by 0.5%. Data released by the General Statistics Office shows that the central province of Ha Tinh recorded the highest growth of industrial production at 149.3% during the January-July period. Such a strong performance was mainly as a result of Formosa’s steel factory based in the province. The north central province of Thanh Hoa came second in IIP growth at 28% thanks to the Nghi Son Oil Refinery, while the IIP of southern Tra Vinh province only grew by 1% as the Duyen Hai Thermal Power Company cut their output in June and July. The IPP also saw solid increases in key industrial centres such as Hai Phong (up 24.2%), Bac Ninh (up 19.5%), Vinh Phuc (12.4%) and Thai Nguyen (12.1%). |
