Hanoi: Vietnam’s industrial sector marked a remarkable growth in 2024 with the industrial production index (IIP) surging by 8.4% year-on-year, a record high over the past four years, the General Statistics Office (GSO) has said.

According to Vietnam News Agency, the figure exceeded the annual target of 7-8%. In 2024, the manufacturing and processing industry saw the highest IIP growth at 9.6%, compared to 1.5% in 2023. It was followed by the water supply sector at 10.7% and the electricity production and distribution sector at 9.5%. In contrast, the mining sector posted a decline of 6.5%.