The manufacturing sector posted a growth rate of 13.1% in the first seven months of 2018.

The manufacturing sector posted a growth rate of 13.1%, power generation and distribution 10.7% and water supply and waste treatment 6.6%, while the index for activity declined by 0.5%.

Data released by the General Statistics Office shows that the central province of Ha Tinh recorded the highest growth of industrial production at 149.3% during the January-July period.

Such a strong performance was mainly a result of Formosa’s steel factory based in the province.

The north-central province of Thanh Hoa came second in IIP growth at 28% thanks to the Nghi Son Oil Refinery, while the IIP of southern Tra Vinh province only grew by 1% as the Duyen Hai Thermal Power Company cut their output in June and July.

The IPP also saw solid increases in key industrial centers such as Hai Phong (up 24.2%), Bac Ninh (up 19.5%), Vinh Phuc (12.4%) and Thai Nguyen (12.1%).

Source: NDO