Vietnam industry & trade sector looks good in early 2024
The strong recovery of industrial production, the exponential rise in exports, abundant goods supply, and good revenue from services in January paint a rosy picture for the domestic industry and trade sector this year, heard an online conference held by the Ministry of Industry and Trade (MoIT) on February 16.
Industrial production experienced a robust recovery of 18.3%, and exports surged 42% in January. (Photo: VNA)
Hanoi (VNA) – The strong recovery ofindustrial production, the exponential rise in exports, abundant goods supply,and good revenue from services in January paint a rosy picture for the domesticindustry and trade sector this year, heard an online conference held by theMinistry of Industry and Trade (MoIT) on February 16.
Ngo Quang Trung, head of the MoIT’s Agencyfor Regional Industry and Trade, reported that industrial productionexperienced a robust recovery of 18.3%, and exports surged 42% last month.
The ministry issued directives, asking stakeholders to put in place a market stabilisation programme, focusingon ensuring the supply of essential food items at stable prices during the LunarNew Year (Tet) festival, which lasted from February 8-14.
Additionally, it brought made-in-Vietnamproducts to rural, mountainous and island areas, while intensifying marketinspections and controls to prevent smuggling and trade fraud.
Notably, the ministry held workingsessions with the Departments of Industry and Trade of Hanoi and Ho Chi MinhCity over preparations for Tet in localities, he said.
Trung stressed that the total value ofTet stockpiles by businesses increased by around 10-12% as compared to othermonths, adding the market stabilisation programme was rolled out in manylocalities and responded by various enterprises, including major retailers like Saigon Co.op, Central Retail, MM Mega Market,Lotte and BRG Mart.
Market management forces worked round the clock during the festival,effectively materialising the directives of the National Steering Committee forAnti-smuggling, Counterfeit Goods and Trade Fraud (National Steering Committee389) and the ministry.
Most businesses suspended production during the holiday,except for some in steel, paper, cement, electronics, and automotiveindustries, which still maintained part of their production.
The supply of electricity to the national power grid wasensured both before and during Tet, with no major incidents reported, theofficial said./.
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The index of industrial production (IIP) in January fell 4.4% month on month but still went up 18.3% year on year, reported the General Statistics Office (GSO).
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Industrial production experienced a robust recovery of 18.3%, and exports surged 42% in January. (Photo: VNA) 
