According to the report of the Ministry of Industry and Trade, in January, the bright spot of the national production picture was the industrial production index (IIP) estimated to decrease by 9.2% compared to the previous month, but still increased slightly by 0.6% compared to the same period last year (the Lunar New Year 2024 decreased by 6.8%).
In particular, the processing and manufacturing industry increased by 1.6% over the same period last year; electricity production and distribution increased by 0.4%; water supply, waste management and treatment activities increased by 9.2%...
The report of the Ministry of Industry and Trade recorded that some key industrial products in January increased compared to the same period last year. Typically, cars increased by 60.7%; TVs increased by 50.1%; NPK mixture increased by 13.7%; Natural fiber woven fabric increased by 9.6%; fresh milk increased by 7.3%; powdered milk increased by 5.7%; normal clothing increased by 5.0%.
Assessing industrial production in January 2025, the leader of the Department of Industry (Ministry of Industry and Trade) pointed out that for key industries that have recovered strongly such as: Textiles, footwear, steel, electronics, food processing... has reflected a rapid recovery, which shows that input fields for production and business are recovering strongly.
In particular, one of the positive bright spots for the industry in January was that the processing and manufacturing industry continued to lead in attracting foreign investment, with a total investment capital of more than 3.09 billion USD; accounting for nearly 87% of the total registered investment capital, up 99.1% over the same period last year, showing optimistic signals for the development of the domestic industry.
"These sectors will create a very good momentum for growth in the following months, especially the processing and manufacturing sector is still the driving force for economic development" - the leader of the Department of Industry assessed.
According to statistics from the Ministry of Industry and Trade, the industrial production index in January 2025 compared to the same period last year increased in 47 localities and decreased in 16 localities across the country.
In particular, some localities have high production index of the processing and manufacturing industry in January 2025 compared to the same period last year such as: Nam Dinh increased by 29.9%; Bac Kan increased by 28.5%; Ben Tre increased by 24.2%; Binh Phuoc increased by 17.0%; Kien Giang increased by 16.6%; Hai Phong increased by 16.3%.
According to the Ministry of Industry and Trade, the growth of industrial production in January 2025 is the effort of ministries, branches, and the business community to concretize solutions to reduce inventory and boost consumption of goods.
Achieving this result, some economic experts believe that associations and industry have actively enhanced business connectivity activities and promoted product consumption. Enterprises restructure, reduce costs and production costs to improve product competitiveness, thereby improving efficiency and flexibly adapting to new situations.
