Industrial production value increases 21.04 percent in the 9 months of 2008.

Specifically, central state sector reached VND6,351.1bil, 14.7 percent higher than the same period; non-state sector reached VND7,328.16bil, up 21.7%; foreign-invested sector VND39,790bil, up 23.7%; local state sector VND2,006.7bil, down 5% against the same period. Export turnver reached US$4,802.8mil, up 24.2% or 97.7% of the plan.

In general, the industrial production value and export turnover in the 9 months saw rather high growth but at slower rate. Most of the economic sectors did not meet their year’s target. However, non-state sector, which has attracted huge forces from people, is estimated to get a 0.5% increase in the whole 2008 compared to the year’s target.

The reason was that inflation was high, price of fuel and raw material increased, which affected the price and competitiveness of products so some of businesses had to adjust their growth target. Besides, frequent power cut imposed a considerable influence on industrial production progress across the province. Another important reason was the VND/USD exchange rate.

As known, the objective of the remaining months is to focus on industrial structure transfer by encouraging big groups with technological and capital strength to invest in high-tech industries, especially the key ones and to promote the implementation of projects and industrial encouragement programs and so on to struggle for an industrial production value in 2008 of VND76,320bil, 21.3 percent higher than 2007 and an export turnover of around US$7bil.

Reported by Hoang Anh, Translated by Tuyenvanah