Industrial production grows in first quarter if COVID-19 ends: GSO The General Statistics Office (GSO) forecast if the coronavirus epidemic is stamped out in the first quarter this year, Vietnam's industrial production value in the first quarter would increase by 2.68 percent year-on-year, lower than growth rate of 9 percent in the first quarter of 2019 and 10.45 percent in the first quarter of 2018. Production value of the manufacturing and processing sector, accounting for a large segment in the domestic industrial production, is estimated to increase only 2.38 percent. If there had been no epidemic, the processing and manufacturing sector was expected to surge by 10.47 percent. In addition, other industrial products would also lose production value due to an extended epidemic including textiles, garment, leather and shoes that need imports of raw materials from China such as yarn, fabric, cotton, thread, needle, leather, and other equipment and accessories for the textile, leather and garment sectors. To stabilise domestic production, GSO General Director Nguyen Bich Lam said the GSO had proposed the Government monitor trade activities, especially key export products and markets, and then solve problems of producers and traders of those products. In addition, the Government and ministries… Read full this story
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