Manufacturers in overdrive to cater to year-end consumption
The General Statistics Office (GSO) reported optimistic signals in industrial production, attributing the positive trend to businesses securing orders and gearing up for year-end consumer demand.
At an electronic assembling line in Bac Giang (Photo: VNA)
Hanoi (VNA) – The General StatisticsOffice (GSO) reported optimistic signals in industrial production,attributing the positive trend to businesses securing orders and gearing up foryear-end consumer dema༒nd.
Specifically,the index of industrial production (IIP) in November rose by 5.8% annually,marking the highest growth since the beginning of this year. Yearon year, the manufacturing and processing sector grew by 6.3%, electricityproduction and distribution up 9.2%; water supply, waste and wastewater managementtreatment up 3.3%. However, the mining sector experienced a decrease of 3.8%.
Dueto the global economic downturn, the overall IIP for the cumulative 11 months increasedby only 1% annually. Despite this, it represented the highest year-on-year growth since earlythis year, indicating a positive recovery trend in industrial production.
In the industrial hub of the southern province of Binh Duong, a surge in orders has prompted numerous businesses to seek additional workers. Demand for recruitment extends from now untilthe year's end, ranging from 400 to 1000 workers per company.
In the bustling southern metropolis of Ho ChiMinh City, the IIP experienced a monthly surge of 3.85% and an impressive annualgrowth of 9.8%. Over an 11-month period, it recorded a🐟 4.1% increase comparedto the corresponding period last year./.
The index of industrial production (IIP) in the first half of 2023 grew by only 0.44% compared to the same period last year due to decreasing orders, falling demand and rising input costs, according to the General Statistics Office (GSO).
Vietnam’s economy has begun to gather steam again since the start of the third quarter of this year, helping consolidate confidence of businesses and investors, experts have said.
Vietnam’s index of industrial production (IIP) went up 0.5% in the first ten months of this year with the October IIP alone rising 4.1% year-on-year, according to the General Statistics Office.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
At an electronic assembling line in Bac Giang (Photo: VNA) 
