According to the Nam Dinh Statistics Bureau, industrial production in October 2024 continued its upward trend, with an estimated increase of 2.28% from the previous month and a 14.49% rise year-over-year. Cumulatively, the industrial production index for the first ten months surged by 14.71% compared to the same period in 2023, marking the most significant growth since 2019.

Among the contributing factors, the manufacturing sector led with the highest growth rate of 14.83%, contributing 14.43 percentage points to the overall increase. The production and distribution of electricity, gas, hot water, steam, and air conditioning grew by 3.94%, adding 0.09 percentage points. Water supply, waste management, and wastewater treatment rose by 21.25%, adding 0.31 percentage points, while the mining sector fell by 32.03%, subtracting 0.12 percentage points.

Several key industrial subsectors also experienced significant growth over the first ten months compared to the previous year. These include leather and related products (+25.89%), apparel production (+18.50%), fabricated metal products (excluding machinery and equipment) (+17.88%), and metal production (+16.25%).

The Nam Dinh Statistics Bureau noted a shift in the province’s industrial landscape, moving from labor-intensive industries to high-tech manufacturing.

For labor-intensive sectors like textiles and footwear, local policies have shifted to reduce investment attraction. However, these sectors continue to be substantial contributors to the province’s industrial output. Currently, the garment industry is focused on producing fall and winter items for domestic and export markets, with rising order volumes driving continuous labor recruitment to meet production needs. Similarly, the footwear industry has increased production volumes for export, with activity expected to ramp up in the final months of the year as demand grows.

In the high-tech industry, Nam Dinh has witnessed promising expansion with new investments, such as those from Taiwan-based Quanta Computer Inc. By the end of September 2024, just 16 months after receiving investment registration certification, Quanta exported its first two laptop shipments from its facility at My Thuan Industrial Park (Nam Dinh City) to major global clients. The company is expected to employ around 2,000 workers by the end of 2024, with the workforce projected to reach approximately 9,000 by late 2025. This collaboration highlights the effective partnership between Nam Dinh and foreign enterprises, promising significant economic benefits and boosting Nam Dinh’s profile in the high-tech industrial sector.

Reflecting this industrial growth, the employment index for industrial enterprises in Nam Dinh rose by 0.30% in October 2024 from the previous month. Over the ten-month period, the labor index increased by 2.91% compared to the previous year, with state-owned enterprises down by 12.50%, domestic private enterprises up by 0.12%, and foreign-invested enterprises rising by 6.24%.

Nam Dinh’s strong industrial growth is largely attributed to the province’s proactive investment promotion efforts and its commitment to creating a business-friendly environment for industrial companies worldwide.