Vietnam's industrial production has shown signs of recovery and positive growth despite ongoing challenges, the Ministry of Industry and Trade has assessed.

Industrial production in Vietnam has shown signs of recovery and is believed to have a bright prospect in 2024 thanks to the global consumption rebound and support from the Government, ministries, and sectors.

Vietnam’s industrial production remains challenged despite signals of recovery in August, while a decline in business confidence means it may be a stretch to hit government-set goals.

The first quarter of 2023 saw a decline of 2.2% in the Index of Industrial Production (IIP) compared to the same period last year, due to the impact of the world economy's challenges on domestic production and business.