Swift response solidifies economic growth ambitions

Despite some positive signals in domestic industrial production, various uncertainties are undermining Vietnam’s economic growth goals and prompting the government to quicken an administrative overhaul.

- By Thanh Thanh

The National Statistics Office under the Ministry of Finance on May 3 announced that Vietnam’s index for industrial production in the first four months of April continued an uptrend, with a rise of 3 per cent on-month and 9.9 per cent on-year.

The four-month index climbed 9.2 per cent as compared to the same period last year, when the index grew 8.6 per cent. In which, the on-year index expanded 9.9 per cent for the processing and manufacturing industry; 7.5 per cent for the electricity production and distribution industry; 4 per cent for the mining industry; and 7.4 per cent for the waste and wastewater management and treatment industry.

Production of many key products in the economy witnessed on-year increases. Vietnam’s industrial production has been recovering both qualitatively and quantitatively, especially in the context that the global economic situation remains in big difficulties. It has continued acting as a key driver of economic growth, according to the Ministry of Industry and Trade.

At last week’s governmental conference on Vietnam’s socioeconomic situation, it was reported that despite numerous difficulties, the economy is bouncing back, with enterprises’ confidence increasingly strengthened.

The government has highlighted that since early this year, Vietnam’s enterprise development has also flourished. In April, nearly 20,400 businesses were newly established, with total registered capital of $9.87 billion, up 9.7 per cent on-year.

In the January-April period, the total number of enterprises newly established hit nearly 77,800, registered at $31.4 billion. The total newly registered capital inserted into the economy in the period came in at nearly $76 billion, up 4.2 per cent on-year. Additional capital of operational enterprises stood $44 billion, down 16.8 per cent as compared to that in the corresponding period of 2025.

Troublesome risks