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INDUSTRY, INVESTMENT AND CONSTRUCTION

IN2022

1. Industry

The year2022 witnessed a low growth rate in industrial production
activities compared to previous years. Within the industry sector, the growth
rate was shifted from the electricity production and distribution to the
manufacturing. As the Covid-19 pandemic was controlled nationwide, and

trade agreements such as EVFTA and CPTPP proved their efficiency,
industrial activities in the province maintained the growth rate and
development. However, the rising inflation, the impacts of the Russia -
Ukraine conflict, the rising costs of production and transport caused by the
high prices of fuels and input materials, and the gradual decline in external

consumption demands exerted influence on the industrial production activities
in the province.
In2022, the province’s direction was to focus on timely overcoming

difficulties and obstacles, assisting businesses in accessing the Government's
support policy packages on exemption, reduction, and extension of tax, fee,
land rent, loan, interest rates reduction, and restructuring of expiration date on
debt repayments, which aimed at creating a stable and favorable environment
for businesses to make investment in production and business activities.

Furthermore, enterprises actively transformed their models, changed strategies,
flexibly responded; proactively applied digital transformation; rapidly
stabilized their production and business activities; signed new orders; and
expanded domestic and export markets in order to accomplish tasks and
solutions to restore socio-economic development in line with the Prime
Minister’s Resolution No. 11/NQ-CP dated January 30,2022.

The year-on-year index of industrial production (IIP) of the whole
industry increased by 0.55% in2022, of which mining and quarrying, and

manufacturing recorded a sharp increase (the mining and quarrying soared by

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