The Ministry of Industry and Trade will propose to build a credit package of 4.4 billion USD for developing the support industry for industrial sectors, especially automobile production.

By the end of the year, the Ministry of Industry and Trade will submit a project to support and promote automobile manufacturing in Vietnam.

According to insiders, the support industry is an important sector and needs special policies. If this industry is firm, the assembly and finishing stages will be much easier creating higher value.

Vietnam has 358 manufacturing companies related to cars. The number is much lower than thousands of Thai automobile part manufacturers. Therefore, this project has a great meaning supporting and motivating domestic enterprises, experts say.

However many feel support packages for businesses should be considered carefully. Companies need a favourable business environment, overall support from established enterprises, access to bank credit, tax support and land.- VNS/VNA