Industrial production in 2025 targets 9-10% growth

The Ministry of Industry and Trade proposed raising growth targets in the industrial and commercial sectors in 2025, in which the industrial production index strives to increase by about 9-10% compared to 2024.

The Ministry of Industry and Trade proposed raising growth targets in the industrial and commercial sectors in 2025, in which the industrial production index strives to increase by about 9-10% compared to 2024.

Minister Nguyen Hong Dien attended the 2024 year-end conference of the Department of Industry.

Reporting at the conference to review the work in 2024 and deploy tasks in 2025 of the Department of Industry (Ministry of Industry and Trade), this unit said that in 2024, industrial production will recover positively.

Mr. Nguyen Ngoc Thanh, Deputy Director of the Department of Industry, said that last year, the Department of Industry made significant contributions through its management and advisory work, focusing on reviewing and organizing the implementation of key tasks and solutions set out in Resolution 01/NQ-CP of the Government and promptly removing difficulties and obstacles, mobilizing all resources for industrial development, and implementing the industry's targets.

Industrial production scale recovered quickly, widely and continuously expanded: Industrial production index in 11 months of 2024 increased by 8.4% over the same period last year, the highest increase in the period from 2020 to present.

With the current growth rate, it is expected that the industrial production index will increase by over 8% in 2024, exceeding the set plan (the plan is to increase by 7-8%).

In 2025, the Ministry of Industry and Trade aims for the industrial production index to increase by about 9-10% compared to 2024; goods exports to increase by about 12%; total retail sales of goods and consumer service revenue to increase by about 10%.

The industrial structure continues to shift positively towards modernization; the processing and manufacturing industry returns to its role as a growth driver for the entire industry and the entire economy with a high growth rate.

The processing and manufacturing industry has become the growth engine of the entire industry and the entire economy with a high growth rate: In 11 months, the production index of the processing and manufacturing industry increased by 9.7% (the same period in 2023 increased by only 1.0%), contributing 8.5 percentage points to the overall growth.

The key industries of the economy continue to develop, such as: oil and gas exploitation and processing; mineral exploitation and processing, electricity, electronics, telecommunications, information technology; metallurgy, iron and steel; cement and construction materials; textiles, footwear; mechanical processing and manufacturing, automobiles, motorbikes..., creating an important foundation for long-term growth.

Speaking at the 2024 Working Conference and the 2025 Task Deployment Conference of the Department of Industry, Minister Nguyen Hong Dien assessed: "Industry is one of the material production sectors, playing a very important and decisive role in the growth of the country's economy. The processing and manufacturing industry grew by nearly 10% over the same period. Most localities in the country have an increased industrial development index, some localities have increased at double digits."

But besides that, the industry still has many shortcomings and limitations.

That is, the industrial production value is still low, the industrial production value of the domestic enterprise sector accounts for a small proportion of the total industrial value of the whole country, 74.6% of the export value is from the FDI sector, not taking full advantage of the opportunities of the 4.0 industrial revolution, the shift of investment from multinational companies to third countries and not taking full advantage of FTAs.

There is still a lack of fundamental industries, such as: materials industry, supporting industry, mechanics, manufacturing, electronics, chemicals, and energy.

"Evidence shows that domestic enterprises only account for 24%, while 76% are FDI enterprises. Some enterprises have applied science and technology and innovated, but in general, they are still in low-income areas. Vietnamese enterprises' participation in the global production and supply chain is still limited. The proportion of enterprises participating in the supply chain of Samsung or Japanese enterprises is not much," the Minister said.

The chemical industry, basic chemicals are not yet mastered, almost all of them have to be imported. The same is true for the materials industry. The export value is more than 400 billion USD, the total export turnover this year is nearly 800 billion USD, but the trade surplus is only 23-24 billion USD.

In 2025, the world economy still has many potential uncertainties. Domestically, the industry has more market opportunities from receiving new foreign investment flows and large projects in key national sectors.

Implementing the Government's latest directive towards the high GDP growth target of 8% in 2025, the Ministry of Industry and Trade proposed raising growth targets in the industrial and commercial sectors in 2025, in which the industrial production index strives to increase by about 9-10% compared to 2024.

However, according to Minister Dien, next year's GDP growth target is 8% or higher, especially striving to achieve double-digit GDP growth, the industry must achieve growth of 12-13%.

"In 2024, industry will grow by about 8.4% on the basis of the low growth rate of 2023. But by 2025, the industry must achieve a growth rate of 12-13% on the basis of 8.4% of this year added together," the Minister emphasized.

To achieve the target of double-digit industrial growth, it is necessary to promote the application of science and technology, innovation, and build a green economy, digital economy, circular economy, sharing economy, and knowledge economy. Continue to deeply and qualitatively integrate into the world economy, and confidently participate deeply in the global production and supply chain.

Research and propose to amend, supplement, and promulgate new breakthrough mechanisms and policies to keep up with the development trends and speed of the world's development towards green, digital, circular, and sharing, keeping up with the pace of the 4.0 industrial revolution.

Forming and developing fundamental industries, building and consolidating an independent, self-reliant and integrated economy, with mechanisms for FDI enterprises to have a roadmap for technology transfer.

Source: https://baodautu.vn/san-xuat-cong-nghiep-nam-2025-nham-moc-tang-truong-9-10-d236341.html