HCM City announces key product groups for 2018-2020

HCM City (VNA) – Ho Chi Minh City has announced a number of industrial and agricultural product groups as its key products in the 2018 – 2020 period, giving them special priorities in terms of growth promotion.

Nguyen Thanh Phong, Chairman of the municipal People’s Committee, said that identifying key products will be crucial for understanding the full picture of HCM City’s industrial and agriculture sectors, and serve as a basis for the city to focus its resources.

He urged departments to raise awareness of the products’ key status, linking them to the city’s campaign to encourage Vietnamese to use Vietnamese goods, and to work with firms on creating policies that would aid their growth.

Key industrial product groups, announced at a conference organised by the municipal People’s Committee on October 20, include moulded metallic products such as high-precision moulds, steels and machine parts; electronic goods and cables; plastic and rubber; processed foodstuff; drinks; information technology; and clothing.

Medicines are classified as industrial product groups with high potential.

Key agriculture products groups are plants, animal husbandry and aquaculture, while ornamental fish is classified as an area with high potential.

The product groups are chosen due to their high general quality, added value and competitiveness, and for their contribution to the city’s industry and agriculture.

The products use high technologies, are environmentally friendly, and are not plagued with intellectual property rights violations.

Pham Thanh Kien, Director of the city’s Department of Industry and Trade, said the department will focus on creating favourable policies for financial aid, and raising awareness of advanced technologies through conferences and fairs.

It will also consider land funds, workforce training, and trade promotion events.

Nguyen Phuc Trung, Director of the city’s Department of Agriculture and Rural Development, said the department will work on city plans for crop and animal farming, provide funding assistance for farmers, and work with other departments to facilitate brand building, productivity improvement, modern technology acquisition and workforce training.

Nguyen Phuc Hung, Deputy Chairman of the HCM City Union of Business Association, noted that requirements for key product classification will serve as a great foundation for firms’ investment decisions.

The city’s Index of Industrial Production in 2017 grew by 7.9 percent compared to 2016. - VNA