AsemconnectVietnam - In 2024, industrial production recovered, the processing and manufacturing industry will increase by 9.6%, contributing 8.4 percentage points to the overall growth rate and driving economic growth.

Highlights from the processing and manufacturing industry
According to the Ministry of Industry and Trade, Vietnam's industrial production has maintained its growth rate compared to the previous year, and the scale of industrial production continues to expand. One of the bright spots of industrial production is the processing and manufacturing industry, which is also the industry that mainly determines the growth rate of the entire industrial sector, creating the largest added value for the industrial sector and is the main driving force in the country's economic growth over the past years, contributing to the country's successful implementation of socio-economic development.
A report from the General Statistics Office shows that industrial production in the fourth quarter of 2024 continued its positive growth trend, with an estimated industrial production index increasing by 7.9% over the same period last year. In general, in 2024, the industrial production index increased the highest since 2020, estimated at 8.4%.
In particular, the processing and manufacturing industry increased by 9.6% (increased by 1.5% in 2023), contributing 8.4 percentage points to the overall growth; the electricity production and distribution industry increased by 9.5%, contributing 0.8 percentage points; the water supply, waste and wastewater management and treatment industry increased by 10.7%, contributing 0.2 percentage points; the mining industry decreased by 6.5%, reducing 1.0 percentage point to the overall growth.
Many localities have made efforts to overcome difficulties, gradually restored production, and maintained good industrial achievements with the industrial production index increasing in most localities nationwide (increasing in 60 localities and decreasing in 3 localities nationwide). Some localities have achieved a fairly high increase in the industrial production index due to the high growth of the processing and manufacturing industry.
Notably, Vietnam's processing and manufacturing industry currently has many industry groups in the top of the world such as textiles, footwear, wood processing, etc., creating new attractiveness for Vietnam to position and participate in the global supply chain.
For the textile and garment industry, in 2024, the export turnover reached nearly 44 billion USD, accordingly, in 2025, the textile and garment industry sets a double-digit growth target (about 10%), corresponding to exports of 47-48 billion USD.
CK
Source: VITIC/congthuong.vn