In 2023，affected by the complex，volatile and increasing uncertain geopolitical situation in the world，slowing growth in domestic economic，weak demand in the international market，shortage of foreign trade orders and other internal and external factors，Vietnam faced sharply increasing pressure on industrial development，with the industrial added value in the first quarter experiencing the only year-on-year negative growth rate since 2011-2023. To cope with the unfavorable situation，the Vietnamese government took multiple measures and acted proactively，tapped internal potential to stimulate domestic demand，attracted foreign investment and promoted exports，and launched a number of preferential policies. Although the industrial growth rate in the first quarter was lower than the overall GDP and the growth rate of agriculture and services，it achieved a strong rebound in the fourth quarter with a growth rate of 6.86%，once again becoming the engine of economic growth. With Vietnam’s gradual integration into the global supply chain and industrial chain，and the advancement of the Industry 4.0 plan，Vietnam’s industry will face new opportunities and challenges in the future against the backdrop of global economic recovery.