According to recent data released on April 29 by the General Statistics Office of Vietnam, the Index of Industrial Production (IIP) for April is estimated to have increased by 3.6 percent compared to the previous month and by 0.5 percent compared to the same period last year.
Generally, the IIP for the first four months of this year is estimated to have decreased by 1.8 percent compared to the same period last year. In the same period in 2022, it increased by 7.8 percent. The mining industry saw a decrease of 2.8 percent, down 0.5 percentage point decrease in the overall index; processing and manufacturing also decreased by 2.1 percent, resulting in a 1.5 percentage point drop. On the other hand, electricity generation and distribution edged up by 0.5 percent, contributing 0.1 percentage points; water supply, waste, and wastewater management and treatment surged by 5.5 percent, contributing 0.1 percentage points.
By region, the IIP in the first four months of this year increased in 52 localities and decreased in 11 localities compared to the same period last year.
The number of employees working in industrial enterprises as of April 1 inched up by 0.7 percent compared to the previous month and fell by 3.5 percent compared to the same period last year.
Despite the challenges, there are also positive signs, as indicated by the above figures. It is anticipated that several large projects in the processing and manufacturing industry will be concluded in the remaining two months of the second quarter, leading to the creation of new capacity for industrial production.
The food production and processing industry is set to finalize the construction of a cattle feed factory in Ca Mau Province, capable of producing 125,000 tons of feed per year.
In addition, the metal product and machinery manufacturing industry is expected to complete the construction of an aluminum production plant in Hai Duong Province, with a capacity of 150,000 tons of products annually. Furthermore, four mechanical equipment manufacturing plants will be completed in Quang Ninh Province, with a total designed capacity of over 8 million products per year.
The transportation manufacturing industry is expected to finalize the construction of two factories: the Kim Long Motors production and assembly complex in Thua Thien Hue Province, capable of producing 1,000 units per year, and a factory in Quang Ninh Province for the production of household appliances and electric bicycles, with a capacity of 610,000 units per year.
