Electronics companies in HCM City have been boosting their production in the first few months of the years to make up for their losses due to COVID-19. Photo: kinhtevn.com.vn

HCM City — Electronics production in HCM City increased sharply in the first two months of the year thanks to efforts to stabilise export markets and foster manufacturing, according to the city Department of Industry and Trade.

Nguyễn Thị Xuân Thủy, deputy director of the Industry Development Assistance Centre, said: “COVID-19 hit companies hard, especially in the electronics industry. They had to cut their payroll. So they tried to find new markets and new materials to cope up with the raw material shortage.”

The industry’s 32.4 per cent growth helped increase growth for the city’s four key industries by 7.8 per cent, 1.8 percentage points up year-on-year. 

The other three industries are estimated to have grown more modestly: pharmaceutical chemicals, rubber and plastic industry by 2 per cent, food and beverages by 3.6 per cent and the mechanical industry by 5.1 per cent. — VNS