The manufacturing and processing sector remains the primary driver of industrial growth

The manufacturing and processing sector continued to be the primary driver of industrial growth, expanding by 10.3 percent and contributing 8.5 percentage points to the overall IIP.

Other sectors also posted positive results, with electricity production and distribution rising by 4.6 percent, and the water supply, waste, and wastewater treatment sector growing by 10.4 percent. Conversely, the mining sector saw a 2.7 percent year-on-year decline, resulting in the overall IIP shrinkage by 0.4 percentage points.

Several provinces with large industrial bases reporting industrial growth include Vinh Long (up 4.5 percent), Quang Ngai (3.7 percent), Dong Nai (3.5 percent), and Ho Chi Minh City (3.4 percent).

On the other hand, some localities experienced decrease in industrial production, such as Quang Ninh (down 3.9 percent), Da Nang (2.5 percent), Bac Ninh (1.8 percent), and Hai Phong (0.6 percent).

Earlier, the S&P Global Viet Nam Manufacturing Purchasing Managers' Index (PMI) rose to 52.4 in July, indicating an improvement in the overall health of the manufacturing sector.