Industrial production in September increased the most in the third quarter of 2024

This afternoon, October 1, the regular meeting on the socio-economic situation in September 2024 and the first 9 months of 2024 of Ho Chi Minh City was chaired by Chairman of the City People's Committee Phan Van Mai.

In his opening speech at the Conference, Mr. Phan Van Mai gave a general assessment of the socio-economic situation in the first 9 months, showing that the city has maintained its growth rate but has not made any breakthroughs. In this result, public investment disbursement is still low, reaching only 20% of the annual plan. The Chairman of the Ho Chi Minh City People's Committee suggested that the meeting should focus on discussing and identifying key solutions that need to be implemented, and breakthrough solutions for socio-economic development in the fourth quarter of 2024 and the following year.

Chairman of Ho Chi Minh City People's Committee Phan Van Mai delivered the opening speech at the meeting - (Photo: Ho Chi Minh City People's Committee)

According to forecasts, the city's growth is only over 7%, so in order for the growth index to increase by 7.5% in 2024, the city must achieve growth of 9% in the fourth quarter. Therefore, Ho Chi Minh City needs to find key, breakthrough solutions to achieve the above goal.

According to the report at the Conference, the industrial production situation in the city continued to recover and maintain positive growth momentum. In September 2024, the index of industrial production (IIP) of the whole industry was estimated to increase by 3.4% compared to the previous month and by 11.2% compared to the same period last year. This is the highest increase in the third quarter of 2024.

Specifically, in September, mining increased by 2.7% compared to the previous month and increased by 38.6% compared to the same period; processing and manufacturing industry increased by 3.6% compared to the previous month and increased by 11.3% compared to the same period; electricity production and distribution decreased by 2.4% compared to the previous month and increased by 5.1% compared to the same period; water supply and waste treatment increased by 1.6% compared to the previous month and increased by 3.0% compared to the same period.

In the first 9 months of 2024, IIP in the area increased by 6.9% over the same period. Including, the mining industry increased by 46.5%; the processing and manufacturing industry increased by 6.7%; electricity production and distribution increased by 7.2%; water supply and waste treatment increased by 1.4%.

The industrial production index of Ho Chi Minh City in September 2024 increased by 3.4% compared to the previous month and increased by 11.2% compared to the same period last year - (Illustration photo)

Regarding investment and construction, Ho Chi Minh City is currently focusing on removing difficulties and obstacles, unblocking resources and speeding up the progress of compensation and site clearance for projects. Promoting the disbursement of public investment capital is the city's key task in the last months of 2024. In the first 9 months of 2024, the total social investment capital in the area is estimated to increase by 6.7% over the same period.

Total state budget revenue in the city in the first 9 months of 2024 is estimated to increase by 14.3% over the same period. Of which, revenue from all economic sectors increased significantly, contributing to a 22.2% increase in domestic revenue and especially revenue from import and export increased by 1.2%. Local budget balance expenditure increased by 22.2%, regular expenditure increased by 14.1% over the same period.

Total state budget revenue in the first 9 months of 2024 is estimated at VND 371,307 billion, reaching 76.9% of the estimate and increasing by 14.3% over the same period.

Total local budget expenditure (excluding advances) in the first 9 months of 2024 is estimated at VND 56,254 billion, reaching 37.5% of the estimate and down 0.5% over the same period. Total local budget balance expenditure (excluding advances) is estimated at VND 55,047 billion, reaching 37.7% of the estimate and up 22.2% over the same period.

Total mobilized capital of credit institutions in the area is estimated to reach VND 3,717.5 trillion as of September 30, 2024, up 0.7% over the previous month and up 10.3% over the same period. Of which, mobilized capital in VND is estimated at VND 3,380 trillion, accounting for 90.9% of total mobilized capital, up 0.7% over the previous month and up 8.8% over the same period. Mobilized capital in foreign currency is estimated at VND 337.5 trillion, accounting for 9.1% of total mobilized capital, up 0.7% over the previous month and up 28.7% over the same period.

Trade and service activities in the area continued to grow steadily, although accommodation and travel revenue decreased due to unfavorable weather. Total retail sales of goods and consumer revenue in September 2024 are estimated to increase by 4.8% over the previous month, up 13.5% over the same period and in the first 9 months of 2024, up 10.5%.

Regarding passenger and cargo transport, transport revenue in the first 9 months of 2024 increased by 36.9% over the same period. In the third quarter alone, it increased by 41.5% over the same period. Of which, passenger transport decreased by 13.7%, cargo transport increased by 11.9%.

In addition, the consumer price index (CPI), entering September, the tuition fee for the new school year 2024 - 2025 was adjusted, the price of food services outside the home increased, which was one of the reasons for the consumer price index to increase by 0.45% compared to the previous month and increase by 2.71% compared to the same period. Of which, 8/11 groups of goods had price indexes increase compared to the previous month, the highest increase was the education group (+4.85%), the remaining groups all decreased, the largest decrease was the transportation group (-3.03%).

Average CPI in the third quarter of 2024 increased by 2.99% over the same period and the average for the first 9 months increased by 3.17%.

Source: https://congthuong.vn/tp-ho-chi-minh-san-xuat-cong-nghiep-thang-9-tang-cao-nhat-quy-iii-nam-2024-349566.html