Industrial production up 9.2% in four months

Industrial production maintained positive momentum in April 2026, with the Index of Industrial Production (IIP) rising 3.0% month-on-month and 9.9% year-on-year. Overall, the IIP increased by 9.2% in the first four months, reflecting a steady recovery and expansion of the industrial sector.

Manufacturing and processing remained the main growth driver, expanding by 9.9% and contributing 7.8 percentage points to the overall increase. Electricity production and distribution rose 7.5%, while water supply and waste management grew by 7.4%. Mining activity posted a 4.0% increase.

Notably, industrial production expanded across all 34 localities, underscoring the broad-based recovery nationwide. Several provinces recorded strong growth, particularly those with advantages in manufacturing and power generation, such as Ninh Binh, Phu Tho, Ha Tinh, Nghe An, and Bac Ninh. Hydropower-rich provinces including Lai Chau and Son La also posted robust growth in electricity output, contributing positively to overall performance.

In contrast, some localities such as Lang Son, Lao Cai, Quang Ngai, and Tuyen Quang saw more modest increases, largely due to reliance on slower-growing or contracting sectors such as mining and electricity.

A range of key industrial products continued to post strong growth, including motorcycles, automobiles, steel, processed seafood, and beer, indicating a recovery in both domestic and export demand.

The industrial labor market also showed positive signals, with employment in enterprises rising 1.1% month-on-month and 3.6% year-on-year, suggesting that businesses are expanding production.

Nearly 29,900 enterprises enter or re-enter the market each month on average

In the first four months of 2026, 77,800 new enterprises were established, with total registered capital nearing VND 785.4 trillion and a workforce of 356,900 employees. These figures marked sharp increases compared to the same period in 2025, particularly a 60.1% rise in capital and a 50.7% increase in the number of newly established firms.

Additionally, 41,600 enterprises resumed operations, up 8.6% year-on-year. In total, more than 119,400 enterprises were newly established or returned to operation during the period, representing a 32.8% increase compared to a year earlier. On average, nearly 29,900 enterprises entered or re-entered the market each month.

The average registered capital per enterprise reached VND 10.1 billion, up 6.2%, indicating an improvement in the quality of capital inflows. Total additional capital injected into the economy was estimated at nearly VND 1.9 quadrillion, up 4.2%.

Public investment disbursement accelerates to support growth

Since the beginning of the year, ministries, sectors, and local authorities have stepped up efforts to accelerate the disbursement of public investment funded by the state budget, aiming to boost economic growth.

State budget-funded investment disbursement in April 2026 was estimated at nearly VND 54.8 trillion, up 8.2% year-on-year.

Cumulatively, in the first four months of 2026, disbursed public investment reached an estimated VND 187.1 trillion, equivalent to 19.7% of the annual plan and up 10.4% compared to the same period last year (the corresponding figures for 2025 were 16.7% and 20.5%).

Of this, centrally managed investment was estimated at VND 25.4 trillion, fulfilling 12.5% of the annual plan and rising 4.6% year-on-year. Locally managed investment reached approximately VND 161.7 trillion, accounting for 21.6% of the annual plan and increasing 11.4%.

Specifically, provincial-level state budget investment amounted to VND 125.3 trillion, equivalent to 21.3% of the plan and up 8.3% year-on-year, while commune-level investment reached VND 36.4 trillion, achieving 22.7% of the plan and surging 23.5% compared to the same period in 2025.