Industrial production increased in 49 localities

Of which, compared to the same period last year, the processing and manufacturing industry increased by 4.9%; the mining industry decreased by 5.7%; the electricity production and distribution industry increased by 5.6%; water supply, waste and wastewater management and treatment activities increased by 5.2%.

In the first 10 months of 2023, IIP is estimated to increase by 0.5% over the same period last year. Accordingly, the processing and manufacturing industry increased by 0.5%; the electricity production and distribution industry increased by 2.6%; the water supply, waste and wastewater management and treatment industry increased by 5%; the mining industry decreased by 3.2%.

Ms. Phi Thi Huong Nga, Director of the Department of Industrial and Construction Statistics, said that although production and business activities of enterprises in the processing, manufacturing, and mining industries are still facing difficulties, they have recovered more positively than in the third quarter of 2023.

Also according to the report of the General Statistics Office, the production index in the first 10 months of 2023 of a number of key industries increased sharply compared to the same period last year, including: rubber and plastic products increased by 9.5%; tobacco products increased by 9.1%; prefabricated metal products (except machinery and equipment) increased by 8.7%; metal ore mining increased by 6.3%; food processing and manufacturing increased by 6.1%; chemicals and chemical products increased by 5.9%; water exploitation, treatment and supply increased by 5.3%.

On the other hand, the IIP index of some manufacturing industries decreased: other means of transport decreased by 7.3%; motor vehicles decreased by 4.1%; crude oil and natural gas exploitation decreased by 4%; other non-metallic mineral products decreased by 3.7%; paper and paper products decreased by 2.7%...

According to the report of the General Statistics Office, the industrial production index in the first 10 months of 2023 compared to the same period last year increased in 49 localities and decreased in 14 localities nationwide. Some localities had a fairly high increase in the IIP index due to the high growth of the processing and manufacturing industry; the electricity production and distribution industry.

Specifically, localities with high production index of processing and manufacturing industry in the first 10 months of 2023 compared to the same period last year include: Dak Lak increased by 36.9%; Bac Giang increased by 18.6%; Phu Tho increased by 16.8%; Nam Dinh increased by 14.4%; Kien Giang increased by 14%; Hai Phong increased by 13.5%; Ha Nam increased by 13.1%. On the contrary, some localities had low or decreasing IIP index due to low or decreasing growth of processing and manufacturing industry, mining industry and electricity production and distribution industry.

Localities with a low increase or decrease in the production index of the processing and manufacturing industry in the first 10 months of 2023 compared to the same period last year are: Hoa Binh increased by 0.7%; Quang Nam decreased by 30.4%; Bac Ninh decreased by 13.1%; Vinh Long decreased by 12.3%; Soc Trang decreased by 7.6%; Lao Cai decreased by 5.1%.

Regarding the situation of laborers working in industrial enterprises as of October 1, 2023, it increased by 1.0% compared to the same period last month and decreased by 1.4% compared to the same period last year. Of which, laborers in the State-owned enterprise sector remained unchanged compared to the same period last month and decreased by 0.9% compared to the same period last year; non-State enterprises increased by 0.6% and decreased by 2.8%; foreign-invested enterprises increased by 1.2% and decreased by 0.9%.

To promote industrial production in the last months of the year, Deputy Minister of Industry and Trade Do Thang Hai said that the Ministry will also focus on key solutions such as: continuing to remove difficulties for businesses to promote production development on the basis of closely following the production situation of industries, fields, and some key industrial localities, promptly grasping and removing difficulties to promote production development.

Ms. Nguyen Thi Huong, Director General of the General Statistics Office, proposed that the Government continue to organize connections for domestic enterprises to participate in the supply chains of large global FDI enterprises investing in Vietnam; at the same time, support enterprises, especially small and medium enterprises, to recover and develop production through facilitating administrative procedures and credit access, etc.

On the business side, representatives of enterprises in the processing and manufacturing industry want to stabilize electricity, water and fuel prices to limit the increase in production costs; at the same time, they recommend that the Government stimulate the domestic market to support businesses in finding effective partners to consume their products.

Along with that, businesses facing financial difficulties, especially small and micro enterprises, want to reduce loan interest rates and receive support in completing loan applications faster so that businesses can have capital for production and business more promptly and effectively.