Vietnam's index of industrial production (IIP) fell 14.6 per cent in January from the previous month and 8 per cent from the same period last year, the General Statistics Office (GSO) has announced.

The Vietnam Manufacturing Purchasing Managers' Index (PMI) remained at 40.2 in September.

The Index of Industrial Production for August has dropped by 4.2 per cent from July, and a 7.4 per cent decrease year-on-year. However, IIP for the year so far has increased by 5.6 per cent year-on-year. 

Data shows that industrial production index in the first five months of the year advanced 9.9 percent year-on-year, with manufacturing and processing up 12.6 percent.

The Ministry of Industry and Trade’s (MOIT) report on industrial production and trade activities in H1 showed that Vietnam’s great achievements in containing the epidemic were highly appreciated by the international community.

Multiple enterprises have closed down or reduced production scale due to the complicated developments of the COVID-19 pandemic, according to a report from the National Assembly’s Committee for Social Affairs.

Ho Chi Minh City will continue to promote the development of information and communications technology (ICT) to develop into an innovative smart city and improve living conditions, authorities have said.

The industrial production index went down in November with the decline of both mining and manufacturing industries. This is a big surprise in the context of stable global and domestic demand.

Vietnam’s economy remains positive despite the slowdown in global economic growth, especially in Asia, over the last 11 months, Prime Minister Nguyen Xuan Phuc said while chairing the Government’s regular meeting for November on December 2.

The capital city of Hanoi wants to be rid of all plastic and nylon bags in traditional markets by next year.

 VietNamNet Bridge – In the first half of this year, Vietnam’s economy showed signs of rallying. The macro economy stabilized and GDP increased 5.52%.

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 VietNamNet Bridge – Most enterprises operating in Viet Nam were optimistic about the economic recovery, saying business was bouncing back this year, according to the General Statistics Office (GSO).

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VietNamNet Bridge – Though foreign direct investment (FDI) capital declined in the first quarter of the year, economists say Vietnam is benefitting from the shifting of FDI trends, especially from multinational corporations (MNCs).