Efforts to support industry recovery

Efforts to support industry recovery

According to the Ministry of Industry and Trade, Vietnamese industrial production has recovered and recorded positive signals, although many difficulties remain.

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With the return to growth in demand around the world, as well as government support measures, the situation for businesses should improve in the months to come.

Vietnam’s socio-economic stability will continue to drive investment in the country.
Photo: VNA/CVN

According to Dao Phan Long, president of the Vietnam Association of Mechanical Industry (VAMI), Vietnam’s macroeconomic and social stability will continue to stimulate investment, promote production and business.

A report from the Ministry of Industry and Trade shows that the industrial production index in April 2024 increased by 0.8% compared to the previous month and by 6.3% compared to the same period of the year last. During the first four months of 2024, it recorded an increase of 6.0% on an annual basis.

Long An province, neighboring Ho Chi Minh City, has a dynamic economy.
Photo: VNA/CVN

However, the Ministry of Industry and Trade notes that industrial production and commercial activities still present latent risks that must be closely monitored, including the decline in the industrial production index in several localities, fluctuations in rates exchange rates in April.

According to Dào Phan Long, although the market situation and economic activities have improved considerably compared to last year, the global economy would still face many challenges this year given the forecasts of weak growth and inflation. high. Additionally, geopolitical tensions in many regions will also expose business activities to risks and disrupt supply chains.

In the Ford Hai Duong automobile assembly plant (North).
Photo: VNA/CVN

The Ministry of Industry and Trade will continue to promote the disbursement of public investments, examine and resolve problems in the implementation of key projects in the fields of electricity, oil and gas, manufacturing industries and minerals, in order to promote business development.

In addition, the ministry will focus on solutions to eliminate difficulties faced by businesses in promoting production. It will also continue to build ties to promote the participation of domestic companies in the supply chains of foreign companies investing in Vietnam…

VNA/CVN

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