Vietnam’s index of industrial production (IIP) went up 0.5% in the first ten months of this year with the October IIP alone rising 4.1% year-on-year, according to the General Statistics Office.

Vietnam’s industrial production is faced with high problems caused by a rise in costs and material shortages, which are undermining the country’s economic outlook.

Vietnam is predicted to record a rise of 6.6% in industrial production in 2023, according to S&P Global Market Intelligence.