Discussing the industrial recovery situation of our country in the first 7 months of 2024, Deputy Minister of Industry and Trade Phan Thi Thang expressed that there are many bright spots worth noting.

Accordingly, important indicators all increased sharply, such as: The PMI index in July 2024 of the manufacturing industry reached 54.7 points, up for 4 consecutive months and the highest level since November 2018; the growth rate of industrial production output in July was higher than that of June and reached the highest level since March 2011; the industrial production index (IIP) after 7 months increased by 8.5% over the same period last year, the highest cumulative level since February 2024 to date, in which the processing and manufacturing industry increased by 9.5%.

Basic industrial production grew broadly in 60/63 localities in July, with only 3 localities recording a decrease. Some localities with high growth rates include Khanh Hoa, Bac Giang, Hai Phong, Quang Ninh, etc.

Some key industrial products increased sharply compared to the same period last year such as steel bars, angle steel; natural fiber woven fabrics; rolled steel; NPK mixed fertilizer; electricity production... The growth results of industry in general and processing and manufacturing industry in particular mentioned above reflect a very positive picture of domestic production.

Specifically, it can be seen that industrial production is recovering strongly compared to 2023, and is continuing to grow positively. The processing and manufacturing industry has returned to playing a leading role in economic growth. Basic industrial production has grown broadly in most localities across the country, especially in localities that play a key role in industrial development.

The production capacity of domestic industrial enterprises has recovered very positively and is ready to take advantage of opportunities to access new markets in the coming time.

The confidence of domestic and foreign manufacturing enterprises has been strongly strengthened thanks to positive signals in industrial production growth in the first months of 2024.