The Index of Industrial Production (IIP) of Vinh Phuc province recorded a good growth of more than 12.74% in the first quarter of 2025. This outcome resulted from business support solutions from the local government as well as the effort of local businesses to expand consumption markets, boost exports and improve productivity and competitiveness.
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In March 2025, Vinh Phuc’s IIP rose 13.05% month on month and 14.9% year on year. Compared to February, the mining sector grew 4.44%; processing and manufacturing rose 13.08%; electricity, gas, steam, and air conditioning supply increased 11.86%; and water supply, waste, and wastewater management climbed 9%.
Its IIP was estimated to rise 12.74% year on year in the March quarter, marking growth for three consecutive years (2023–2025) and only trailing the first-quarter increase of 13.91% in 2022 during the 2021–2025 period. Compared to the same quarter of 2024, the processing and manufacturing industry rose by 12.7%; the production and distribution of electricity, gas, hot water, steam and air conditioning by 6.89%; and water supply, waste and wastewater management and treatment by 27.59%.
In the first quarter of 2025, as many as 23 out of 25 secondary industries advanced from a year earlier and only two industries slipped from a year-earlier period.
The production index of key industries recorded high growth. The electronic components industry climbed 12.27% thanks to expanded investments and many new projects coming into production, thus helping increase output and revenue.
The automobile and motorbike industries jumped 22.42% and 7%, respectively, on improved demand, increased promotions launched by companies and product upgrading. The metal and non-metallic mineral manufacturing industries respectively ascended 27.16% and 5.04% with a stable consumption market.
In March 2025, Vinh Phuc province witnessed a 7.91% year-on-year decline in motorcycle output. Other major industrial products all had increased production output.
In the March quarter, the output of some major industrial products was to be expanded from a year-ago period. Mobile phone output posted the highest growth of 106.5%.
The Industrial Labor Utilization Index of Vinh Phuc province also edged up 0.09% from the same period of 2024. Textile and garment, leather and footwear, and electronic parts manufacturers signed many more orders, thus requiring more workers to be hired to meet the delivery schedule for partners. In particular, the March Labor Utilization Index of local industrial enterprises looked up 1.28% month on month and 1.80% year on year.
In March, the Consumer Index of the entire processing and manufacturing industry was estimated to go up 11.56% month on month and 3.63% year on year. Compared to the previous month, most secondary industries had higher consumer indices, with the textile and garment industry growing by 38.97%, the other non-metallic mineral manufacturing industry by 57.41%, and the motor vehicle manufacturing industry by 97.63%.
On the contrary, Vinh Phuc also had seven out of 18 industries see a decline in consumer indices. The worst performers included the bed, wardrobe, table, and chair manufacturing industry (down 23.60%) and the food manufacturing and processing industry (down 15.96%).
In March 2025, the Inventory Index of the processing and manufacturing industry fell 7.75% month on month and 17.10% year on year. The rising inventory index was seen in the electrical equipment manufacturing industry (up 37.08%), the vehicle manufacturing industry (up 14.91%), and the bed, wardrobe, table and chair manufacturing industry (up 10.59%).
On the contrary, the declining inventory index was witnessed in the unclassified machinery and equipment manufacturing industry (down 35.12%); the motor vehicle manufacturing industry (down 36.58%) and other processing and manufacturing industries (down 29.21%).
From the second quarter to the end of 2025, Vinh Phuc province will continue to adopt consistent solutions to support businesses and people to stabilize their production while promoting industrial restructuring towards modernization and prioritizing the development of high-tech industries.
By Duy Anh, Vietnam Business Forum
Vietnamese
