Despite soaring inflation, rising oil, material prices and production costs, industrial production in Ho Chi Minh City has been developing steadfastly during the last six months, up 13.4% year-on-year.

Added value in industrial production rose 10.9% compared with the same period last year, realizing 44.9% of target.

The electronics and IT industry climbed by an impressive 44.9% year-on-year, manufacturing engineering 15.8%, and the chemical-rubber sector 16%.

In suburban areas, industrial output also increased in proportion and absolute value in line with the city’s policy.

The manufacturing engineering, IT-electronics and chemical-rubber sectors currently take up 57.8% of economic structure from 53.3% a year earlier.

Specifically, the IT sector has managed to attract major investments from Nidec and Intel while the food sector increased 12.7%.