A high-ranking Ministry of Industry and Trade official has been detained amid an investigation into the misappropriation of state funds by Xuyen Viet Oil.
Purchasing Managers’ Index hit 50.5 in August, above the no-change point for the first time in six months and demonstrating improved business conditions in the manufacturing sector.
According to the General Statistics Office, the Index of Industrial Production (IIP) in October increased 3 per cent over the previous month and 6.3 per cent over October last year. Processing and manufacturing rose 5.7 per cent, mining 6.3 per cent, and electricity production and distribution 10.5 per cent. The IIP for the first ten months is estimated to have increased 9 per cent year-on-year.