Yen Bai’s industrial production bounces back in Q1

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Yen Bai’s industrial production bounces back in Q1

Thursday, April 8, 2021

YBO - Yen Bai’s Industrial Production Index (IIP) in March rose by 32.53 percent from the previous month and 11.13 percent from the same period last year. In the first quarter of 2021, the index expanded 10.03 percent year-on-year.

A worker at Hoang Lien Son Technical Ceramics JSC in Yen Bai.

A number of industrial products experienced high year-on-year growth, including iron ore and non-sintered iron (12.34 percent), wood shavings and chips (13.73 percent), plywood (164 percent), paper-made packaging and bags (71.79 percent), commercial electricity (12.65 percent) among others.

Meanwhile, decline was seen in lead ore (27.27 percent), construction stone (25.61 percent), cassava starch (28.31 percent), underwear (31.7 percent), ski suits (32.02 percent), paints and varnishes (82.31 percent) and components of pre-engineered metal buildings (80.16 percent).

In the coming time, local manufacturers are advised to actively search for new markets and strengthen their foothold in the existing ones. They should also make the most of the domestic market and seize new opportunities in production.

Local authorities, at the same time, need to come up with specific measures to assist enterprises in fast-tracking industrial and hydro-power projects and those engaging in infrastructure development in Bao Hung and Minh Quan industrial clusters. Incentives should also be adopted to encourage workers to shift from agriculture to industry and handicrafts.

The provincial Department of Industry and Trade has requested relevant units to keep a close watch and stay vigilant against the COVID-19 in order to get ready in any new development, while maintaining stable production.

Quang Thieu

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