Industrial production continued to improve in the second half of 2023. The estimated Index of Industrial Production (IIP) increased by 14% in the fourth quarter and 13.1% in the whole of 2023 compared to the same periods in 2022. Some key industries saw positive growth over the same period, such as computer production increasing by 84%, shipbuilding by 87.6%, and production of consumer electronics by 75.1%. In 2023, businesses faced many difficulties as export orders declined, commodity prices increased, and finished product prices decreased due to intense competition. Still, having taken advantage of opportunities to study suitable solutions for business and production development, Hai Phong City’s industrial production maintained a high growth rate of 13.16% compared to last year, helping the city rank among the leading provinces and cities with large-scale industrial production.

Worldwide and regionally, complicated fluctuations are predicted to persist. The global economy is forecast to have more positive changes than in  2023, but there are still many potential risks in the recovery process. Other economies and partners of Vietnam recover slowly, unsustainably, with modest growth, low consumer demand, and increased protection barriers. Despite many countries tightening their monetary currencies, inflations have made great impacts on global economic growth, investment, and consumption. These factors expectedly will also affect Hai Phong City’s industrial production in 2024./.