Hanoi industrial production rises 8% in Jan-Jul

Hanoi’s Index of Industrial Production (IIP) in July has grown 1% month-on-month and 7.8% year-on-year, according to the municipal Statistics Office.

Due to the impact of the new Covid-19 pandemic, many economic growth indicators of Hanoi in July tended to decrease compared to the same period in June 2020. Determining that the last months of the year will still be difficult, the Hanoi People's Committee asked ministries, sectors and localities to take measures to promote economic recovery.

According to the report of the Hanoi People's Committee, the city's exports in July reached approximately 1.41 billion USD, down 0.55 months over the same period and down 5.9% over the same period; total retail sales of consumer goods and services reached about VND 41.4 trillion, down 7% month on month and down 19.7% over the same period last year. The number of newly established companies in the first 7 months of this year was 15,022 companies, down 3% compared to the same period last year. In addition, the number of enterprises that have completed dissolution procedures is 1,706 enterprises, an increase of 22% over the same period last year.

However, there are still some signs showing a positive recovery trend. Industrial production index in July increased by 1% compared to the month and 7.8% over the same period; The industrial production index in the first 7 months of the year increased by 8.5% over the same period. Financial revenue of Hanoi reached approximately VND 152,176 trillion, equaling 112.7% of the same period last year. Local budget expenditures were approximately VND 35,380 trillion, reaching 32.6% of the year plan, equaling 94.8% of the same period last year.