HCM City prioritises developing four key industrial sectors

Thu, 14 Jan 2021 15:17:00  |  Print  |  Email   Share:

Ho Chi Minh City sets a target of 5% industrial growth in 2021 and its four key sectors expanding by at least 6.7%, according to its Department of Industry and Trade.

Deputy Minister of Industry and Trade Do Thang Hai and Nguyen Phuong Dong, deputy director of the HCM City Department of Industry and Trade, present certificates to representatives of businesses whose industrial and supporting industries products are recognised as featured industrial products of HCM City in 2020.

The four are food processing, pharmaceutical chemicals-rubber-plastic, mechanical engineering, and electronics.

The city also targets 10% growth in retail sales of goods and services and exports to VND905.563 trillion (US$39 billion) and US$49.2 billion.

At a meeting held on January 13 to review the industry and trade sector’s performance last year and set tasks for this year, Nguyen Phuong Dong, the department’s deputy director, said, “In 2020 city enterprises restructured their production to make it market-oriented. The city’s industrial sector shrunk by 4% last year due to the impact of the COVID-19 pandemic.

“The electronics sector grew by 18.7%. Local and foreign firms made products that were exported to many countries and territories.”

Computer and electronic component exports were worth an estimated US$17.83 billion, an increase of 18.1% from 2019, he said.

The pharmaceutical chemicals-rubber-plastic industry grew by 4.7%.

“Many local rubber and plastic firms have successfully participated in global supply chains for the automobile, motorbike, mechanical engineering, and electrical and electronics industries.

“Thanks to their proactive investment in technology and production management with an eye on long-term development, their products have high added value and meet the requirements of large multinational companies.”

The food and beverage industry’s output fell by 0.7% due to the impact of the pandemic and Decree No 100 that stipulated huge fines for drunk driving.

The mechanical engineering industry’s output fell by 12.4% mainly due to a decrease in the production of motor vehicles.
Due to the impact of the pandemic, output dropped sharply in the second quarter and then recovered gradually, especially from September.

Retail sales of goods and services were worth an estimated VND1,224 trillion (US$52.9 billion), a decrease of 1.3%.

Dong said this year the industrial sector would step up administrative reform, work closely with business groups and official agencies to promptly address difficulties faced by businesses, and carry out programmes to help businesses restore production and expand their markets.

Ly Kim Chi, chairwoman of the HCM City Food and Foodstuff Association, called on the department to organise more trade promotion programmes to help firms promote their products and expand their market.

Also at the meeting, the city Department of Industry and Trade announced a list of 92 industrial and supporting industries products made by 56 enterprises that meet the criteria set for ‘featured industrial products of HCM City in 2020.’

These are high value-added with innovative designs that meet the demands of domestic and foreign markets.


Source: https://vov.vn/en/economy/hcm-city-prioritises-developing-four-key-industrial-sectors-830538.vov


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