Figures from the General Statistics Office of Vietnam (GSO) show that although industrial production continued to see a decline in January compared to December, it increased substantially compared to January 2023. The result was quite similar to last year, when declines were seen in the early months before returning to growth in the closing months of the year. In particular, manufacturing and processing was the main contributor to growth in the entire industrial sector. Though there are positive signs, ministries and branches have forecast that the challenges will linger into 2024. To achieve the targeted increase of 7-8 per cent against 2023, set by the Ministry of Industry and Trade, a great deal of support and facilitation is needed from the government, ministries, branches, the banking system, and localities in taking more active measures to support industrial production.