Vietnam’s industry targets global production chains

Hanoi (VNA) – A future national industry policy should work to sustain the national economy’s self-reliance and enable sectors’ effective participation in global production and distribution chains, heard a seminar in Hanoi on August 28.

The industrial sectors should be oriented towards modernity, characterised by scientific-technological advances, and have high locally-made content, experts said.

The event looked into the national industrial policy and sought changes to it in the context of globalisation and international economic integration.

With a target to become an industrialised country, the Political Bureau has assigned the Party Central Committee’s Economic Commission to study a project on National Industry Policy.

Head of the Party Central Committee’s Economic Commission Nguyen Van Binh shared other experts’ view that attention should be paid to sectors that are competitive and strategic to rapid and sustainable development.

The industrial strategy set for 2025 with a vision towards 2035 must mesh with the new situation and follow rules of a market economy, the participants said.

They stressed the need to ensure sustainable development, reform administrative procedures, make the best use of domestic resources, and lure foreign resources to serve the cause of national industrialisation and modernisation.

A report presented at the event revealed that Vietnam has made big strides over the past 30 years of reform, holding an improved position in the world arena.

The Party has consistently pursued the goal of becoming an industrialised nation and changed implementation methods through different periods of time, with importance placed on quality and competitiveness at present, the report said.
Calling for efforts to carry forward the reform achievements, Binh noted that apart from developing the policy, the execution of the policy is also important.-VNA