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) reporte♑d optimistic signals in industrial production,attributing the positive trend to businesses securing orders and gearing up foryear-end consumer demand.
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 an𒀰 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.
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The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
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At an electronic assembling line in Bac Giang (Photo: VNA) 
