Specific policies needed to boost support industry: Minister
The State needs to adopt more policies and measures to assist Vietnamese
enterprises operating in the support industry in an effort to boost the
future development of the sector, Minister of Industry and Trade Vu Huy
Hoang said.
Hoang said Vietnam should seek international partnerships with countries that excel in the field, such as Japan and the Republic of Korea (RoK), in a bid to promote its domestic support industries, which remain underdeveloped despite the Government’s directions and preferential treatments.
Hoang said Vietnam should seek international partnerships with countries that excel in the field, such as Japan and the Republic of Korea (RoK), in a bid to promote its domestic support industries, which remain underdeveloped despite the Government’s directions and preferential treatments.
The State needs to adopt more policies and measures to assist Vietnamese
enterprises operating in the support industry in an effort to boost the
future development of the sector, Minister of Industry and Trade Vu Huy
Hoang said.
Hoang said Vietnam should seek international partnerships with countries that excel in the field, such as Japan and the Republic of Korea (RoK), in a bid to promote its domestic support industries, which remain underdeveloped despite the Government’s directions and preferential treatments.
Although the Government and relevant ministries and sectors prioritised the development of the sector, their policies and incentives have failed to attract the attention of domestic companies. Moreover, the capabilities of businesses in the support industry do meet the requirements set out in policy.
Most businesses said they struggled to access preferential loans under the prime ministerial Decision 12/QD-TTg issued in 2011, which aimed to boost the support industry.
The Prime Minister instructed the Ministry of Industry and Trade to cooperate with other ministries and sectors to develop the Decision into a Decree in order to make it more efficient and practical, the minister noted.
The Decree will focus on building specific mechanisms and policies for the sector, including the development of a national programme on support industry development and the establishment of a fund to support businesses in the field.
The draft of the Decree is expected to be completed and submitted to the Government by the end of this month, Hoang added, saying that he believed the Decree would address the inadequacies of the old documents.
Vietnam and Japan have agreed to build two intensive industrial parks to serve the support industry in the southern province of Ba Ria-Vung Tau and the northern city of Hai Phong.
The Japanese partner provided a sizable loan to support Vietnamese small- and medium-sized enterprises specialising in the industry.
The Governments of Vietnam and the RoK have also worked together to build a technology incubator, a centre of innovation and collaboration, in the Mekong Delta city of Can Tho. Another incubator is scheduled to be established in the north in the near future.-VNA
Hoang said Vietnam should seek international partnerships with countries that excel in the field, such as Japan and the Republic of Korea (RoK), in a bid to promote its domestic support industries, which remain underdeveloped despite the Government’s directions and preferential treatments.
Although the Government and relevant ministries and sectors prioritised the development of the sector, their policies and incentives have failed to attract the attention of domestic companies. Moreover, the capabilities of businesses in the support industry do meet the requirements set out in policy.
Most businesses said they struggled to access preferential loans under the prime ministerial Decision 12/QD-TTg issued in 2011, which aimed to boost the support industry.
The Prime Minister instructed the Ministry of Industry and Trade to cooperate with other ministries and sectors to develop the Decision into a Decree in order to make it more efficient and practical, the minister noted.
The Decree will focus on building specific mechanisms and policies for the sector, including the development of a national programme on support industry development and the establishment of a fund to support businesses in the field.
The draft of the Decree is expected to be completed and submitted to the Government by the end of this month, Hoang added, saying that he believed the Decree would address the inadequacies of the old documents.
Vietnam and Japan have agreed to build two intensive industrial parks to serve the support industry in the southern province of Ba Ria-Vung Tau and the northern city of Hai Phong.
The Japanese partner provided a sizable loan to support Vietnamese small- and medium-sized enterprises specialising in the industry.
The Governments of Vietnam and the RoK have also worked together to build a technology incubator, a centre of innovation and collaboration, in the Mekong Delta city of Can Tho. Another incubator is scheduled to be established in the north in the near future.-VNA
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