MPI Releases Report on Socio-Economic Situation

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Feb. 14 – A report released by the Ministry of Planning and Investment on the January socio-economic situation in Vietnam shows that the index of industrial production IIP last month decreased by 12.9 percent over the previous month, and by 2.4 percent over the same period last year.

Real estate firms have been, and will, continue to meet difficulties in 2012, but many of them have to bargain away products to get back capital.

Dr Le Dang Doanh, a well known economist, has warned that the garment industry in particular would meet difficulties. By this time in previous years, 80 percent of garment companies had garnered jobs through till the end of the year. This year, however, many have only received orders until the second quarter.

Wooden furniture, household electronics and construction material manufacturers would also face hard pressure this year. As for cement, the inventory level has reached 2 million tons.

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