Industrial production of Ho Chi Minh City decreases by nearly 50%

As the largest economic center in Vietnam, the industrial production index of Ho Chi Minh City decreased by 47.1% in the third quarter. Meanwhile, GDP in the third quarter of the city decreased by over 20%.

Answering Zing’s question regarding business development and the impact of the Covid-19 pandemic on the southern provinces, Mr. Pham Dinh Thuy, director of the Department of Industry and Construction Statistics (General Statistics Office), frankly admitted that the Covid-19 pandemic had disrupted the production, processing and export chains. If we don’t fight the pandemic well, the breakdown will continue to happen.

So far, the business’s stamina has been nearly exhausted. Never before has the rate of newly established enterprises been much lower than the rate of enterprises having to stop production and dissolve like this year. Obviously, businesses are facing a lot of difficulties,” said Thuy.

Breaking the production chain

According to the results of a quick survey by the General Statistics Office in September, 94.3% of businesses were negatively impacted by the Covid-19 pandemic, of which 98.9% of the 19 southern provinces had enterprises faced severe difficulties, especially in the southeast region and the Mekong Delta.

“With such difficulties, the disruption of the production and supply chain will certainly happen,” said a representative of the General Statistics Office.

As for the construction industry, this sector currently accounts for over 30% of GDP and has always contributed the most to the overall picture of the economy over the years. However, the added value of the whole industry in 9 months was only estimated to increase by 4.45% over the same period last year (in the first quarter, it increased by 6.29%; in the second quarter, it increased by 11.18%; in the third quarter, it decreased by 3.5%. ).

Industrial production index of some southern provinces

According to the General Statistics Office, 19 southern provinces and cities account for 44.4% of the country’s total GDP. Preliminary data shows that most of the provinces in the region had a deep negative growth in the third quarter, only Binh Phuoc had a positive growth.

There were 12/19 provinces with negative growth in the third quarter of over 10%, especially in HCM City, with a decline of over 20%.

Mr. Pham Dinh Thuy informed that the industrial production index of the southeast provinces had very low growth. In the first nine months of the year and the third quarter, the industrial production index of HCM City decreased by 13% and 47.1%, respectively, because this is the largest industrial and economic center in the country, so it was heavily affected.

This index in 9 months and 3rd quarter of Ben Tre was negative 11.2% and negative 44.8%, respectively; of Can Tho is negative 9.8% and negative 41.9%, respectively; of Vinh Long were negative 4.5% and 36.8%, respectively; of Dong Thap is negative 9.9% and negative 34.1%, respectively.

The General Statistics Office estimates that the current industrial growth rate is only about 40% compared to before the pandemic. “It is very likely that most localities will not be able to fulfill the target of industrial development as well as the economic development of the whole year, thus affecting the goal of completing the economic development of the whole country,” said Thuy. speak.

More firms withdraw from the market than are newly established

Ms. Nguyen Thi Huong, General Director of the General Statistics Office, said that the prolonged Covid-19 pandemic has caused many businesses to face the risk of bankruptcy; The domestic and international supply chains were broken due to the consecutive distances, the number of newly registered businesses in September had a serious decrease in both quantity and registered capital.

Specifically, in September, the whole country had 3,899 newly established enterprises with a registered capital of VNQ62.4 trillion ($2.68 billion), down 32.3% in number of enterprises and 8.1% in registered capital compared to the previous month. The average registered capital of a newly established enterprise is VND16 billion.

In the month, the whole country also had 3,317 enterprises returning to operation, down 14.2% compared to the previous month and down 27.4% over the same period in 2020. There were 2,240 enterprises registered to suspend business for a period of time, down 28.2% and down 31.5%, respectively.

There were 2,509 enterprises shutting down and waiting for dissolution procedures, down 0.1% and down 38.8%; 606 enterprises completed dissolution procedures, down 25.4% and 65.1%.

In the first nine months of the year, the whole country had 85,500 newly registered enterprises with a total registered capital of nearly VND1,200 trillion, down 13.6% in number of enterprises and 16.3% in capital. registration compared to the same period last year. The average registered capital of a newly established enterprise is VND14 billion.

In addition, 32,300 enterprises returned to operation. The number of enterprises withdrawing from the market was 90,300 enterprises, including 45,100 enterprises temporarily suspending business; 32,400 enterprises stopped operating pending dissolution procedures; and 12,800 enterprises completed dissolution procedures.

On average, about 10,000 businesses withdraw from the market every month.

According to a representative of the statistical agency, this is the first time that the number of enterprises having to withdraw from the market is higher than the number of newly established enterprises. (Translated)


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