In 2024, the industrial sector grew by approximately 8.4%, rebounding from a low growth rate in 2023. However, for 2025, the sector needs to achieve a growth rate of 12-13% on top of this year's 8.4% growth.

"This is a tremendous challenge, requiring us to truly have a breakthrough in thinking and be decisive in action," Minister of Industry and Trade Nguyen Hong Dien stated.

"These figures demonstrate the decisive role of the industrial sector in the growth of the national economy," Minister Dien said at the conference held on December 27 by the Ministry of Industry and Trade’s Department of Industry, which reviewed the sector's performance of 2024 and outlined its tasks for 2025.

In the summary report, Mr. Nguyen Ngoc Thanh, Deputy Director of the Department of Industry, noted that in 2024, the scale of industrial production recovered rapidly, and continuously expanded, despite  challenges from the global economic situation. The industrial sector maintained its role as a driving force for the overall growth of the national economy.

The industrial production index for the first 11 months of 2024 increased by 8.4% compared to the same period last year (which saw a 0.9% increase in 2023). This is the highest increase since 2020, exceeding the set target of 7-8%, according to Mr. Thanh.