Vietnam's industrial production index in the first 7 months of 2024 increased by 8.5% over the same period last year.
According to the General Statistics Office, Vietnam's industrial production index in the first 7 months of 2024 increased by 8.5% over the same period last year, of which the processing and manufacturing industry grew impressively. 5%. This not only affirms Vietnam's position on the global industrial map but is also a great opportunity for supporting industry enterprises to participate deeply in the global supply chain.
Mr. Matsumoto Nobuyuki - representative of the Japan External Trade Organization (JETRO) in Vietnam - commented that Vietnam is an attractive investment destination for Japanese businesses. According to JETRO's latest survey, 56.7% of Japanese businesses in Vietnam plan to expand their business in the next 1 - 2 years, emphasizing that industrial manufacturing is the main field in this expansion plan.
Mr. Do Phuoc Tong - Chairman of Ho Chi Minh City Mechanical and Electrical Enterprises Association - proposed that authorities need to soon invest in building research and product development centers to support domestic enterprises in improving their productivity. efforts to design and develop new products, thereby creating a strong "Made in Vietnam" supply chain.
The report of the Ministry of Industry and Trade also shows that supporting industry enterprises have improved their level of production organization, cut costs and increased productivity, thereby becoming direct suppliers to manufacturers. Production and assembly of finished products. The localization rate has been increased in many industries, especially textiles, garments, footwear, reaching 45-50% and mechanical manufacturing reaching more than 30%.
These developments not only strengthen Vietnam's position in the global supply chain but are also an important step forward for the sustainable development of the domestic supporting industry.
