The northern province of Thai Binh has rolled out policies in promoting the development of the industrial sector at large and supporting industries in particular, with priorities given to garment-textile, mechanics and electrical/electronic devices.
Vietnamese enterprises operating in the support industry, which account for 4.5 percent of the total number of enterprises operating in processing and manufacturing, are facing several challenges, according to Akutsu Michio, consultant of the Japan Association of International Business Consultants.
Indonesian Minister of Industry Agus Gumiwang Kartasasmita on August 17 announced a strategy to replace 35 percent of imported products in 2022 so as to bolster self-reliance and promote the domestic industrial sector.
Indonesia and Japan continue to further intensify comprehensive economic cooperation, especially in the industrial sector, and the synergy between the two countries is expected to have a positive impact on stimulating business enthusiasm amid the ongoing COVID-19 pandemic.
Central provinces must adjust their socio-economic development goals and strategies to minimise the adverse effects brought by the COVID-19 pandemic and natural disasters in 2020, officials have said.
The added value of the industrial sector increased by 3.36 percent last year, higher than the average growth pace of the national economy, statistics show.
The industrial sector of the northeastern province of Quang Ninh enjoyed a year-on-year growth of 11.98 percent in 2020, according to figures revealed by the provincial statistics office on December 29.
More than half a billion dollars in tax returns have been awarded to firms since 2017 in a bid by the Government to boost the country's auto industry and supporting industry, according to deputy director of the General Department of Vietnam Customs Luu Manh Tuong.
The northern port province of Quang Ninh has introduced new policies in the hope of making processing-manufacturing one of the three key pillars in its industry sector, along with mining and power and gas production and distribution.
The Ministry of Planning and Investment (MPI) said it had advised the Government to implement a number of policies to support Vietnam’s industrial sector, especially the supporting industry.
The northern province of Vinh Phuc’s industry has been growing to become a key economic sector that contributes greatly to the local gross regional domestic production (GRDP).
The Indonesian government is preparing additional stimulus packages for the industrial sector, which was heavily affected by the COVID-19 pandemic, according to Minister of Industry Agus Gumiwang Kartasasmita.
Growth of Vietnam’s industrial sector is likely to slow down in the first quarter of 2020 due to negative impacts from the acute respiratory disease caused by a novel coronavirus (COVID-19), according to the General Statistics Office (GSO).
Vietnam’s GDP growth would reach 6.8 percent from the 7.02 percent posted in 2019, mainly due to a slowdown in the industrial sector, analysts from Fitch Solutions forecast.
With its potential and advantages in industrial development, the northern province of Bac Giang has been an attractive destination for investors, especially those in industrial sectors such as electronics, food processing, mechanics, chemicals, and construction material production.
The Vietnam National Coal and Mineral Industries Holding Corporation Limited (Vinacomin) recorded a high growth of 14 percent in the first nine months of 2019, the highest level in the industrial sector.
The Thai Ministry of Industry, the Industrial Estate Authority of Thailand, the Water and Environment Institute for Sustainability, and the Federation of Thai Industries have held the Eco Innovation Forum 2019, on the theme ‘The Economy: Way to a Smart and Sustainable Eco Industrial Town,’ raising awareness in the industrial sector of the circular economy concept in eco industrial town development to maximise efficiency in resource consumption.
The Thai Ministry of Industry has organised an event to enable Thai entrepreneurs to accommodate change according to the Thailand 4.0 policy by allowing the industrial sector to play an important role in developing the country’s personnel and providing skills, knowledge and ability in modern science.
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