Prime Minister Nguyen Xuan Phuc at the event (Source: VNA) Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc has requested that privateindustrial firms be developed, with a focus on innovative startups and the supportindustry.
Chairinga conference in Hanoi on December 19 to discuss measures promoting Vietnam’ssupport industry, the PM lauded the positive results of the domestic supportindustry so far, including ensuring the local content rate at 40-45 percent in theapparel, leather, and footwear industry; 10-20 percent in nine-seat automanufacturing and assembling; and 15 percent in electronics and informatics.
Asthere are currently only 23 certificates of preferential treatment for projectsmanufacturing products in the support industry, he asked the Ministry ofIndustry and Trade to review and issue better support policies.
Basedon lessons learnt from Japan and the Republic of Korea, the leader expressedhis hope that Vietnam will become a workshop for the ASEAN bloc, Asia, and on aglobal scale.
Heurged firms to pay more attention to research and development, while theMinistry of Planning and Investment and the Ministry of Finance must allocatecapital to build three technical centres for support industry development.
Accordingto him, Vietnam has set the goal of developing highly competitive industrialproducts by 2020; meeting 45 percent of demand for domestic manufacturing andconsumption, accounting for nearly 11 percent of the industrial manufacturingvalue; and having about 1,000 enterprises capable of supplying products to manufacturingfirms and multinational corporations nationwide.
By2030, the support industry is expected to meet 70 percent of demand fordomestic manufacturing and consumption, making up roughly 14 percent of the industrialmanufacturing value, while around 2,000 businesses will supply products toassembling and multinational corporations across the country.
Theleader also called attention to developing the industrial workforce in thecontext of the Fourth Industrial Revolution.
Participantsshared the view that the support industry in Vietnam remains weak. There areover 3,000 support industry firms nationwide – 1,800 of which manufacture spareparts, and more than 1,500 produce materials for garments, leather, andfootwear.
Ministerof Industry and Trade Tran Tuan Anh attributed the weakness of the supportindustry to its heavy reliance on imported spare parts, resulting in the lowadded value of the manufacturing and processing industry.
Amongthe 1,800 domestic spare part manufacturers, over 300 have joined the manufacturingchains of multinational corporations, much lower than those in other countries.Though manufacturing and processing accounts for 90 percent of manufacturingand trade revenue, it only contributes to nearly 15 percent of the grossdomestic product (GDP), lower than the 20 percent in ASEAN, 26 percent inThailand, 22 percent in Cambodia, and 36 percent in China.–VNA
Chairinga conference in Hanoi on December 19 to discuss measures promoting Vietnam’ssupport industry, the PM lauded the positive results of the domestic supportindustry so far, including ensuring the local content rate at 40-45 percent in theapparel, leather, and footwear industry; 10-20 percent in nine-seat automanufacturing and assembling; and 15 percent in electronics and informatics.
Asthere are currently only 23 certificates of preferential treatment for projectsmanufacturing products in the support industry, he asked the Ministry ofIndustry and Trade to review and issue better support policies.
Basedon lessons learnt from Japan and the Republic of Korea, the leader expressedhis hope that Vietnam will become a workshop for the ASEAN bloc, Asia, and on aglobal scale.
Heurged firms to pay more attention to research and development, while theMinistry of Planning and Investment and the Ministry of Finance must allocatecapital to build three technical centres for support industry development.
Accordingto him, Vietnam has set the goal of developing highly competitive industrialproducts by 2020; meeting 45 percent of demand for domestic manufacturing andconsumption, accounting for nearly 11 percent of the industrial manufacturingvalue; and having about 1,000 enterprises capable of supplying products to manufacturingfirms and multinational corporations nationwide.
By2030, the support industry is expected to meet 70 percent of demand fordomestic manufacturing and consumption, making up roughly 14 percent of the industrialmanufacturing value, while around 2,000 businesses will supply products toassembling and multinational corporations across the country.
Theleader also called attention to developing the industrial workforce in thecontext of the Fourth Industrial Revolution.
Participantsshared the view that the support industry in Vietnam remains weak. There areover 3,000 support industry firms nationwide – 1,800 of which manufacture spareparts, and more than 1,500 produce materials for garments, leather, andfootwear.
Ministerof Industry and Trade Tran Tuan Anh attributed the weakness of the supportindustry to its heavy reliance on imported spare parts, resulting in the lowadded value of the manufacturing and processing industry.
Amongthe 1,800 domestic spare part manufacturers, over 300 have joined the manufacturingchains of multinational corporations, much lower than those in other countries.Though manufacturing and processing accounts for 90 percent of manufacturingand trade revenue, it only contributes to nearly 15 percent of the grossdomestic product (GDP), lower than the 20 percent in ASEAN, 26 percent inThailand, 22 percent in Cambodia, and 36 percent in China.–VNA
VNA
