According to figures just released by the General Statistics Office, the industrial production (IIP) in November 2024 is estimated to increase by 2.3% compared to the previous month and by 8.9% compared to the same period last year. Of which, the processing and manufacturing industry increased by 11.2%; the electricity production and distribution industry increased by 5.5%; the water supply, waste and wastewater management and treatment industry increased by 6.7%; the mining industry alone decreased by 9.8%.
In the first 11 months of 2024, IIP is estimated to increase by 8.4% over the same period last year (the same period in 2023 increased by 0.9%). Of which, the processing and manufacturing industry increased by 9.7% (the same period in 2023 increased by 1.0%), contributing 8.5 percentage points to the overall increase.
The report of the General Statistics Office recorded that the industrial production index in the first 11 months of 2024 of a number of supporting industries increased sharply compared to the same period last year, including: Production of rubber and plastic products increased by 25.6%; production of beds, cabinets, tables and chairs increased by 24.7%; production of motor vehicles increased by 18.3%; production of coke and refined petroleum products increased by 14.5%; production of chemicals and chemical products increased by 13.4%; production of leather and related products increased by 12.6%; textiles increased by 12.1%; production of products from prefabricated metal (except machinery and equipment) increased by 11.9%; production of electronic products, computers and optical products increased by 8.7%; food processing increased by 7.7%.
Some localities have a high production index of the processing and manufacturing industry in the first 11 months of 2024 compared to the same period last year, including: Phu Tho increased by 42.1%; Lai Chau increased by 39.9%; Bac Giang increased by 28.3%; Quang Nam increased by 20.7%; Thanh Hoa increased by 19.3%.
Despite its growth rate and becoming a bright spot in the economy, according to experts, in order for the processing and manufacturing industry to develop sustainably and become the main driving force to improve the productivity and quality of the economy, it is necessary to continue implementing solutions focusing on removing difficulties for businesses; restoring production, broken supply chains and value chains; supporting businesses in finding export/import markets for raw materials, fuels, spare parts and replacement components. In particular, there are solutions such as: It is necessary to focus on improving technology, managing production capacity and human resources, contributing to increasing labor productivity and business efficiency, supporting businesses to adapt to the development trends of the world and meeting market requirements.
Continue to develop incentive policies, facilitate technology transfer, economic restructuring, develop medium and high technology industries, and gradually reduce the proportion of low-tech industries with low labor productivity.
Encourage large private corporations to take the lead in developing and manufacturing high-tech products and developing domestic value chains, supporting the international market competition strategy of strong products with Vietnamese brands.
Previously, at the opening meeting and announcement of the plan and program of activities of the Appraisal Council under the 2025 Supporting Industry Development Program, Mr. Pham Nguyen Hung - Director of the Department of Industry (Ministry of Industry and Trade) - said that the projects under the program focus on the main activities including: Supporting supporting industry enterprises to connect and become product suppliers for domestic and foreign customers, promoting foreign investment in the supporting industry sector; Supporting enterprises to apply management systems that meet the requirements of global production chains in corporate governance and production management; Supporting training to improve the quality of human resources to meet the requirements of supporting industry product manufacturing industries; Supporting research and development, application of technology transfer and innovation in the trial production of components, spare parts, raw materials and materials; Building and operating a supporting industry information page.
The growth of the processing and manufacturing industry not only affirms the efforts of the supporting industry but also shows that the number of enterprises participating in supporting industry activities is increasing, especially in specialized technical support activities such as production management, quality management, improving the quality of human resources and innovation, applying technology to production.
