The Ministry of Industry and Trade (MoIT) is drafting a new decree ondeveloping the supporting industry with more attractive incentives andtransparent stipulations with the aim of creating a breakthrough for thesector, according to a senior official.
Truong Thanh Hoai,Head of the MoIT’s Heavy Industry Department disclosed this during arecent interview granted to the Vietnam News Agency.
Hesaid the new decree will focus on policies for industrial parks andclusters, technical and technological research, application andtransfer, human resource training, development funds and foreigninvestment attraction in the field of supporting industry.
Theofficial added that there will be a national programme designedspecifically to help domestic supporting enterprises connect withpotential customers.
He noted that as most domesticsupporting enterprises have a low starting point, the State willcontinue to furnish the sector with assistance in terms of capital,infrastructure, production technology, workforce training and marketdevelopment, so as to help them to make a breakthrough in the timeahead.
Hoai underlined that at present, only a small number oflocal makers are able to meet multi-national corporations’ requirementsof stable quality, on-schedule delivery and reasonable price.
He stressed that beside the State’s support, the business community should make stronger efforts to enhance their capacity.
Vietnam currently has 1,400 enterprises operating in supportingindustries that manufacture electrical, electronic, metal and rubbercomponents and accessories. However, their limited production capacityhas forced manufacturers to look for foreign suppliers, leading to thecountry's prolonged trade deficit in industrial production in previousyears.
Vietnam had to import a wide range of components andaccessories worth 53.1 billion USD last year, and that number isexpected to jump to 67.6 billion USD this year.-VNA
Truong Thanh Hoai,Head of the MoIT’s Heavy Industry Department disclosed this during arecent interview granted to the Vietnam News Agency.
Hesaid the new decree will focus on policies for industrial parks andclusters, technical and technological research, application andtransfer, human resource training, development funds and foreigninvestment attraction in the field of supporting industry.
Theofficial added that there will be a national programme designedspecifically to help domestic supporting enterprises connect withpotential customers.
He noted that as most domesticsupporting enterprises have a low starting point, the State willcontinue to furnish the sector with assistance in terms of capital,infrastructure, production technology, workforce training and marketdevelopment, so as to help them to make a breakthrough in the timeahead.
Hoai underlined that at present, only a small number oflocal makers are able to meet multi-national corporations’ requirementsof stable quality, on-schedule delivery and reasonable price.
He stressed that beside the State’s support, the business community should make stronger efforts to enhance their capacity.
Vietnam currently has 1,400 enterprises operating in supportingindustries that manufacture electrical, electronic, metal and rubbercomponents and accessories. However, their limited production capacityhas forced manufacturers to look for foreign suppliers, leading to thecountry's prolonged trade deficit in industrial production in previousyears.
Vietnam had to import a wide range of components andaccessories worth 53.1 billion USD last year, and that number isexpected to jump to 67.6 billion USD this year.-VNA
