In the first 6 months of 2022, some localities had high industrial production index (IIP) compared to the same period, such as Bac Giang (up 48.9%), Quang Nam (up 25.4%), Binh Phuoc (up 23.7%), Ha Giang (up 23%), Bac Ninh (up 19.8%).

Processing and manufacturing industry with rapid recovery

According to the report of the Ministry of Industry and Trade, the situation of domestic industrial production has undergone a strong recovery, gradually overcoming and reconnecting supply chains in the processing and manufacturing industry groups with increased product output and number of new orders.

In the first 6 months of 2022, the added value of the industry increased by 8.48%, higher than the overall increase of the economy (up 6.42%) and higher than the increase of the same period last year (6 months 2021 increased 5.74%). The processing and manufacturing industry continues to play a role in driving the growth of the economy with an increase of 9.66%, contributing 2.58 percentage points to the growth rate of added value of the whole economy.

The scale of industrial production continues to expand with the industrial production index increasing by 8.7% compared to the same period of the previous year, in which the processing and manufacturing industry increased by 9.7%. In the whole country, up to 61/63 localities have increased industrial production and many localities have increased at very high levels. Some localities have high IIP indexes compared to the same period, such as Bac Giang (up 48.9%), Quang Nam (up 25.4%), Binh Phuoc (up 23.7%), Ha Giang (up 23%), Bac Ninh (up 19.8%)…

The report of the Ministry of Industry and Trade also points out that the industry groups with a rapid recovery such as the processing and manufacturing industries have basically reconnected the supply chains, both the output and the number of new orders have increased; the electricity sector ensures a good balance of electricity for economic development and living of the people. Exploitation of oil, gas and coal in excess of the plan along with increased imports has ensured sufficient supply of oil, coal for households producing, for consumption in the domestic market and with reserves to ensure energy security.

Notably, the consumption index and inventory index of the whole processing and manufacturing industry improved in a positive way in the first 6 months of 2022, up 9.4% compared to the same period (in the same period in 2021, up 9.2%). The stock index of the whole processing and manufacturing industry at June 30, 2022 increased by 14.1% compared to the same time of the previous year (at the same time of the previous year increased by 29.5%).

Continued structural shifts in industry

To promote industrial development in the coming time, the Ministry of Industry and Trade affirmed, continue to accelerate the restructuring of industry in the direction of increasing the proportion of processing, manufacturing and reducing the proportion of processing and assembly for industrial products produced in Vietnam; gradually dismantle difficulties for enterprises to increase competitiveness, build technical barriers for imported products to support domestic products, increase the localization rate…

According to the Ministry of Industry and Trade, in the long term, it is necessary to unify resources from the central to local levels to focus on investment and development of industrial projects, especially foundation industries, key export industries such as materials industry, support industry, mechanics, automotive, textiles, leather – shoes, electricity – electronics, food processing…

Focus on supporting the capacity building of industrial and non-industrial enterprises through support solutions for credit, human resources, science and technology, innovation and market development; as well as tax and land incentives as prescribed by law.

The Department of Industry said that the model of cooperation between the Central Government, local authorities and flagship enterprises on industrial development and especially industry support is one of the typical cooperation programs that the Ministry of Industry and Trade has implemented so that localities can refer to and implement innovations effectively. From there, improve the capacity of enterprises in the area, help enterprises deeply participate in the global value chain, contribute to promoting the industrialization and modernization of the country.

Source Tap chi Co khi