Hanoi, June 3 -- Addressing the Cabinet meeting on Wednesday, the finance minister said the index of industrial production (IIP) in May was estimated to increase by more than 8.7 percent compared to the same period last year. In the first five months, the index grew by over 9 percent, marking the highest growth rate for the corresponding period since 2021. The manufacturing and processing sector expanded by nearly 9.5 percent.

Domestic consumption remained a key growth driver. Total retail sales of goods and consumer service revenues in the January-May period rose by more than 11 percent year-on-year, the highest increase since 2024.

International arrivals reached a new record high of nearly 11 million, up almost 15 percent from a year ...