IIP rises 6.3% in eight months

The Index of Industrial Production (IIP) rose by 6.7% in August, bringing the figure for the first eight months of this year to 6.3% year-on-year, reported the General Statistics Office (GSO).

Of this, the manufacturing and processing industry soared 8.1%, contributing 5.6 percent points to the general pace while generating and distributing electricity contributed a rise of 11.2% with 0.8 percent points..

The index of water supply and sewage treatment increased by 6.2%, contributing 0.1 percent point with only exploitation seeing an IIP decrease of 0.8%, reducing by 0.2 percent point.

According to GSO, over the past eight months, the country saw 47,500 new businesses registered with a total capital of VND289.8 trillion, a 9.5% decrease in number and a 14.2% increase in capital over a year earlier. The average registered capital of each enterprise was VND6.1 billion during the period, up 26.2% year on year.

Businesses going under or registering for suspension or suspending their operation to await business tax codes, was 44,500, up 12.9% compared to the same period last year. However, during Jan-Aug, 10,900 enterprises recovered their operation, up 2.6%.

(Source: CPV)