Vietnam's Industrial Production Up 16 %

HANOI, Viet Nam (Jan 11) - The value of industrial production reached VND354 trillion (USD22.44 billion) in 2004, 16 % more than in 2003, the General Statistics Office (GSO) announced. The proportion of industrial production value in the country's GDP rose to 41.4 % from 39.1 % in 2003. Of the total industrial production value, the private sector accounted for 26 %, an increase of 2 % from 2003, and the foreign-invested sector, 37 %, the highest level so far. Major industrial products serving production, consumption and exports, including electricity, clean coal, crude oil, television sets, bikes and cars all registered high growth rates, the General Statistics Office said. The export value of industrial products continued to grow year-on-year, and stood at an estimated US$18.59 billion in 2004, accounting for 72.1 % of the country's export value. In 2004, the industrial sector found new markets for its products, expanding outlets to Africa, Latin America and the Eastern Europe in addition to the old ones in Northeast and Southeast Asia, the EU, and the US. Exports of Vietnamese-made industrial products to China in 2004 grew by over 60 %, making the market one of Viet Nam's largest partners in Asia. (FEER)