(VOVWORLD) - Vietnam’s industrial production has continued its rosy signs since late 2023, promising a bright prospect for the country in the time ahead, Deputy Minister of Industry and Trade Phan Thi Thang said at the Government’s regular press conference in Hanoi on Monday.
 Government's monthy meeting for July (Photo: VGP Duong Tuan) |
Vietnam's Purchasing Managers' Index (PMI) in July 2024 reached 54.7 points, the highest since November 2018, with output increasing sharply thanks to increasing new orders for four consecutive months.
“Industrial production has recovered strongly compared to 2023 and maintains a positive trend. The processing and manufacturing industry has resumed its leading role in growth. Industrial production has grown on a large scale in most localities, especially localities playing a key role in industrial development. The production capacity of domestic industrial enterprises has recovered positively and is ready to take advantage of new market opportunities. The confidence of domestic and foreign enterprises has been enhanced thanks to positive signals in industrial production growth in the first months of the year,” said Ms. Thang.
The Ministry of Industry and Trade will speed up public investment disbursement, review obstacles to key projects in electricity, oil and gas, processing and manufacturing, and minerals in order to soon put them into operation, and continue cooperation with FDI firms and big enterprises at home and abroad as well as international organisations to step up connectivity and improve capacity for domestic suppliers.