Bathroom appliances, electric fans and motorbikes drove the nation�€™s industrial production up 16.6 per cent this month over last year, pushing the total value to US$1.8 billion for October.
The General Statistics Office reported private enterprises led the way among all sectors, with production reaching $487 million, an increase of 21.4 per cent over last October.
In the first 10 months of the year, the private sector also came out ahead, with a growth rate of 19 per cent over last year. Foreign-invested production jumped 17.7 per cent, while State-run production grew 12.2 per cent.
Overall industrial production for the first 10 months of this year totalled $10.6 billion.
The statistics office reported higher market demand boosted strong growth in October among a number of industries: Motorbikes increased nearly 91 per cent; bathroom appliances 87.2 per cent; electric fans 50 per cent; assembled cars 43.1 per cent; coal 21.8 per cent; clothing 17.7 per cent; beer 16.6 per cent; electricity 16.4 per cent; cement 12.5 per cent and processed seafood 11.2 per cent.
The office found some production slowed down: electric engines declined 37 per cent and detergent was down by 8.3 per cent. Experts attributed the drop to a low competitive edge between domestic products and imports.
Several cities and provinces posted strong jumps in production over last October: Vinh Phuc took the lead with 240.3 per cent; Binh Duong rose 33.4 per cent; Da Nang increased 28.4 per cent and Dong Nai grew 20.9 per cent.
Vietnam News - (03/11/2003)