Industrial production was valued at 85 000bn Vietnamese dollars in the first quarter of this year, a year-on-year increase of 15.6 per cent, reports VNA, the Vietnam News Agency. Bicycle production is cited as one of the motors for the growth spurt.

Vietnam’s Q1 industrial production surges by 15.6%

The non-State sector recorded 21.4 per cent increase, followed by the State-owned sector, 14.8 percent, and the foreign invested sector at 12.2 percent.

Industries recording high increases included bicycle production, motor-bike assembly, TV set assembly, coal production, seafood processing, soap and detergent production, and flooring tiles.

Vietnam’s bicycle and parts exports totalled $155m in 2003, a 125 percent increase over 2002.

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