Industrial Production Value Forecast to Hit US$35.5Bln in 2007

Vietnam industrial production value is forecast to increase 17.1 per cent on-year to US$35.5 billion this year, Vietnam Economic Times quoted the Ministry of Industry as saying.

 

To achieve the targets, in the second half this year, the crude oil sector is set to export 16.1 million tons, whilst apparel and footwear exports would rake in US$7 billion and US$4 billion, respectively.

 

In the third quarter alone, the sector’s total industrial production value would hit VND153.2 trillion (US$9.57 billion), average monthly growth of 17.3 per cent, said the Ministry.

 

Despite numerous difficulties in expanding export markets a part from EU and the US, Vietnam’s apparel and footwear industries are boosting the quality and diversifying its exports items.

 

In June of this year alone, the country’s generate industrial production value was estimated at VND50.66 trillion (US$3.17 billion), up 19.5 per cent on-year, raising the total figure to VND275.71 trillion (US$17.23 billion) in the first half this year, an on-year rise of 16.9 per cent, said the General Statistics Office. (Vietnam Economic Times, New Hanoi)