Industrial production showing signs of recovery.

Ho Chi Minh City posted positive economic growth in many indicators in the first seven months of the year, the municipal authorities reported at a meeting held on August 1 to review the city’s socio-economic situation in Jan-July period.

The city’s industrial production showed signs of recovery in all three indexes. The Index of Industrial Production (IIP) rose 9.6% year-on-year, the consumption index of the processing and manufacturing sector grew 13.4% and the inventory index dropped 17.8%.

Total retail sales of consumer goods and services reached over VND661.5 trillion ($26 billion), up 10.3% compared to the same period last year.

The city licenses 29,991 enterprises during the seven-month period with a total registered capital of over VND245 trillion ($9.64 billion).

Pham Vinh (Source: en.vneconomy.vn)