According to the General Statistics Office, the Index of Industrial Production (IIP) in October 2024 is estimated to increase by 4% over the previous month and by 7% over the same period last year. In the 10 months, the IIP is estimated to increase by 8.3% over the same period last year.
Since the beginning of the year, the processing and manufacturing industry, the electricity production and distribution industry, and the water supply industry have all recorded high growth rates, at 9.6%, 10.3% and 9.5%, respectively.
At the same time, many key industries also grew impressively compared to the same period last year. Typically, the rubber and plastic product manufacturing industry increased by 26.3%, furniture increased by 24.8%, energy increased by 16%, chemicals increased by 14.6% and automobiles increased by 14%.
The IIP index in the 10 months also clearly differentiated between localities, in which 59/63 provinces and cities recorded an increase. Some provinces had outstanding growth in the processing and manufacturing industry. Specifically: Lai Chau increased by 43.9%; Phu Tho increased by 40.7%; Bac Giang increased by 27.7%; Thanh Hoa increased by 19.5%; Quang Nam increased by 19.3%;...
In addition, some other localities stand out with strong growth in the electricity production and distribution industry, such as: Khanh Hoa increased by 175.2%; Dien Bien increased by 57.1%; Cao Bang increased by 48.5%; Tra Vinh increased by 48.3%; Lai Chau increased by 42.7%; Son La increased by 39.6%; Thanh Hoa increased by 21.9%...
In October alone, nearly 14,200 new businesses were established nationwide, up 26.5% over the previous month. Total registered capital and the number of employees also grew impressively, reaching VND153,500 billion, up 65.4% and 80,500 employees, up 27.8% respectively.
Although the number of enterprises decreased slightly compared to the same period last year, the scale and quality of new enterprises improved significantly. In addition, nearly 8,700 enterprises returning to operation is also a positive signal for the economy.
In the first 10 months, Vietnam had more than 136,100 newly established enterprises. The total registered capital reached nearly 1.32 quadrillion VND, up 4.1%. The scale of enterprises is increasingly large with an average registered capital of 9.6 billion VND/enterprise. The whole country also has more than 66,200 enterprises returning to operation, contributing to the increase in the number of enterprises operating in the market./.
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