Vietnam’s industrial production was positive in 2021 and the prospects for growth in 2022 are sound, according to figures from the General Statistics Office (GSO).

Added value in industry during the year is estimated to have increased 4.82 per cent compared to 2020. Of this, processing and manufacturing will increase 6.37 per cent and contribute 1.61 percentage points (ppts) to 2020’s overall growth rate. Following was electricity generation and distribution, which increased 5.24 per cent. The production index in 2021 of other key industries such as metal production, machinery, electronic and computer products, and hard coal mining also increased against 2020.

Regarding FDI attraction in 2021, the processing and manufacturing sector continued to lead with registered capital of $7.25 billion, accounting for 47.6 per cent of the total newly-registered capital. By sector, capital contributions and share purchases by foreign investors in the processing and manufacturing industry reached $3.52 billion, accounting for 51.1 per cent of the total.

In terms of the prospects in the first quarter of 2022, many enterprises are good shape in terms of volume and orders as well as export orders, which will increase compared to the fourth quarter of 2021. Foreign investment is the most optimistic, with 83.1 per cent of enterprises predicting that the business situation will be better and more stable in the first quarter of 2022 compared to the fourth quarter of 2021.