According to the Ministry of Industry and Trade, industrial production in the first quarter of 2022 continued to prosper with the added value of the whole industry increasing by 7.07% over the same period last year.
Basic supply chains are transparent
The report of the Ministry of Industry and Trade shows that, in the first quarter of 2022, the added value of industry increased by 7.07%, higher than the general growth rate of the whole economy (up by 5.03%) and higher than that of the whole economy. higher than the growth rate of the same period last year (in the first quarter of 2021), contributing 2.42 percentage points to the growth rate of total added value of the whole economy.
The processing and manufacturing industry continued to play a leading role in the growth of the economy with an increase of 7.79%, contributing 2.05 percentage points. Mining industry grew positively by 1.23% (coal mining increased by 3.2% and metal ore increased by 5%), increasing by 0.04 percentage points the increase in total added value of the whole economy.
With synchronous solutions to support and restore production and business, industrial production had a strong growth, in the first quarter of 2022, industrial production increased by 6.4% over the same period last year. (up 6.5%) in the same period. In which, the processing and manufacturing industry increased by 7% (in the same period increased by 9.45%), the electricity production and distribution industry increased by 7.1%…
Notably, the production index in the first quarter of 2022 in a number of key industries belonging to level II industries increased sharply compared to the same period last year, such as mining and ore supporting services and supporting services. support for exploitation of crude oil and natural gas together increased by 47.7%; production of office machinery and equipment (except for computers and computer peripherals) by 43.7%; production of other specialized machines increased by 28.3%; production of toys and games increased by 23.9%; civil electricity production increased by 27.9%; processing and preserving vegetables and fruits increased by 13.3%; apparel production increased and apparel production both increased by 24.1%…
The Ministry of Industry and Trade acknowledged that industrial production has been restored in most industries, demand and production output have increased, industrial production enterprises have resumed operations, and basic supply chains have resumed. clearly.
The Purchasing Managers’ Index (PMI) in February continued to increase to 54.3 points, the number of new orders increased and the stable business conditions contributed to the increase in domestic manufacturing output.
However, the Ministry of Industry and Trade also said that the production recovery process also encountered some obstacles due to the scarcity of raw materials and high prices, which inhibited the increase in production output. Along with that, workers in some industries have not completely returned to work, which has affected the restoration of production and business.
Accelerating industrial restructuring
Regarding the prospect of industrial production in the coming time, the Ministry of Industry and Trade said that it will continue to prosper thanks to a number of factors. First of all, the recovery of the world economy and the implementation of Vietnam’s free trade agreements (FTAs) have been fully implemented with more preferential tariffs and commitments on facilitation. reduce barriers.
Besides, the wave of investment shift to restructure the supply chain of foreign corporations with large production scale and wide customer network.
In addition, the economic recovery package with supportive policies will help the business community, especially businesses in industries heavily affected by the Covid-19 epidemic, quickly recover production and business activities…
To promote industrial development in the coming months, the Ministry of Industry and Trade noted the need to drastically, synchronously and effectively implement Resolutions 01 and 02 and the economic recovery program, promoting disbursement of investment capital. public private sector, closely following the progress to soon put into operation key projects, playing an important role in the fields of electricity, oil and gas, processing industry, manufacturing… creating added value in Industrial production.
On that basis, it is necessary to continue promoting industrial restructuring in the direction of increasing the proportion of processing and manufacturing industries and reducing the proportion of processing and assembling for industrial products manufactured in Vietnam. Male. Review mechanisms and policies affecting industry of each industry and product. Step by step remove difficulties for enterprises to increase competitiveness, build technical barriers for imported products to support domestic products, increase localization rate.
The ministry also directed production units to follow market developments and market demand, promote domestic production, and replace import demand in the context of rising world prices.
Specifically, enterprises in the energy industry must closely monitor the supply and demand of imported crude oil and coal; evaluate to have stable, effective and optimal operating options for the plant; ensure uninterrupted fuel supply, ensure national energy security. Actively coordinate, share information, resources, markets, make maximum use of resources of each service unit; promote internal resources, enhance and prioritize the use of each other’s services to promote the development of domestic production and consumption.
Source : Bo Cong Thuong