Business News 27/02/2024, 04:16

Industrial production recovered and increased in 60 provinces

According to the Ministry of Industry and Trade, the industrial production index increased in 60 provinces and decreased in 3 provinces across the country.

Industrial production recovered and increased in 60 provinces

Good news in many provinces

The report of the Ministry of Industry and Trade shows that in January 2024, the industrial sector recovered strongly; The index of industrial production (IIP) in January 2024 is estimated to increase by 18.3% over the same period, of which the processing and manufacturing industry increased by 19.3%. The industrial production index increased in 60 provinces and decreased in 3 provinces across the country.

The provinces with the highest IIP growth rates are: Tra Vinh, Quang Ninh, Bac Giang, Nam Dinh, Vinh Long, Kien Giang, Thanh Hoa, Hai Phong, Phu Tho, Thai Binh, Ba Ria - Vung Tau, Nghe An , Quang Tri, Tuyen Quang, Thua Thien Hue, Thai Nguyen, Lao Cai... The provinces with the lowest IIP growth rate are: Ca Mau, Bac Ninh, Son La.

Also according to the Ministry of Industry and Trade, during the recent Lunar New Year 2024, localities and businesses focused on industrial production, supplying petroleum and electricity for production and life, avoiding supply disruptions. The positive growth of the industrial production index is a premise to promote production, business and export activities in the following months of 2024.

For example, in Bac Giang, one of the provinces with a high IIP growth rate, Bac Giang's industrial production value in January 2024 continued to achieve positive results, increasing compared to the same period last year. Specifically, industrial production value (actual price) in January was estimated at more than 58.1 trillion VND, an increase of 21.5 trillion VND (up 58.7%) over the same period.

Another example is Nam Dinh, compared to the same period last year, the industrial production index in January 2024 increased by 55.28%; in which the processing and manufacturing industry increased by 56.86%, the production and distribution of electricity, gas, hot water, steam, and air conditioning increased by 14.35%.

Operate industrial production projects for export soon

To support production and business activities and enterprises in the processing and manufacturing industries in localities, the Ministry of Industry and Trade will focus on key solutions such as: Proactively and effectively deploying business support policies.  Specifically, according to the Prime Minister's direction, the Ministry of Industry and Trade must preside over and coordinate with agencies and localities to focus on promoting and operating industrial production projects to serve export and domestic consumption in the country.

Notably, a number of large projects in the processing and manufacturing industry signed in 2023 in Thai Binh and Quang Ninh will contribute to the growth engine for industrial production in 2024.

In addition, the Ministry of Industry and Trade also focuses on completing and submitting to the Prime Minister the Development Strategy for a number of important industries such as automobiles, steel, dairy, paper, plastic... to unify the industry development orientation in the new period.

On the other hand, continue to promote effective implementation of working programs with localities and existing business support programs to restore and promote industrial growth momentum in localities and key economy regions.

Congthuong/ Translator: Ngoc Mai
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