Ho Chi Minh city: Industrial production in May increases by 7.49%

Representatives from the department said that the greatest increase was reported in food processing, pharmaceutical chemistry, electricity and electronics. Specifically, the food processing industry production was estimated to increase by 0.89%, being considered a bright spot for the industry in the first 5 months of 2020. Enterprises in the food and foodstuff industry also achieved good revenue growth, thanks to increasing demand and purchasing power in the domestic market during the COVID-19 pandemic.

Many businesses of the city such as the Vinh Phat company that works in rice products, Vissan working in processed foods and Vifon working in instant food, have conducted adjustments to their business strategies, focusing their efforts on the domestic market, instead of export. Currently, the increase in production and revenue in the post-pandemic period also makes an important contribution to limiting the decline of the industry due to the impact of the pandemic.

There was also an increase of 8.37% in pharmaceutical production. Part of the  reason was the increasing demand for sanitary cleaning products such as soap, detergent and hand sanitizer used in COVID-19 prevention.

Electricity and electronics, although it maintained growth momentum of 11.83%, saw an increase lower than in the same period last year (29.14%). The electronics industry reported the highest growth rate among key industries, mainly due to the greater production orders./.