Vietnamese businesses operating in support industries have been developing in both quantity and quality in recent years, with improved production capacity and increasing engagement in global production chains.
The northern province of Bac Ninh has set itself a target of 2,500 new enterprises each year in the period from 2020 to 2025, as part of its scheme to support small and medium-sized enterprises (SMEs).
Vietnam has taken measures to improve the capacity of its supporting industries to make domestic enterprises effectively participate in global value chains.
The development of HCM City's Northwestern Urban Area is expected to attract increased investment, drive economic growth of neighbouring areas, and strengthen relations with Cambodia and other ASEAN countries.
The Vietnam - Germany Friendship Association in HCM City held a gathering on October 1 on the occasion of the 30th anniversary of German Reunification (October 3).
Foreign manufacturers who have factories in Vietnam are increasingly looking for local parts suppliers to optimise their production costs, according to the Centre for Supporting Industries Development in HCM City.
Prime Minister Nguyen Xuan Phuc engaged in a talk on the phone with Chancellor of Germany Angela Merkel on September 15 on the occasion of the 45th anniversary of Vietnam – Germany diplomatic ties (September 23, 1975, 2020).
In nearly two years since it began, Ho Chi Minh City’s investment stimulus programme for the supporting industries has enabled a number of businesses to acquire new technologies and equipment, upgrade their factories and enter the supply chains of global large corporations, according to the Centre for Supporting Industry Development (CSID).
There are few opportunities for businesses to develop support industries in Vietnam amid the global economic crisis caused by COVID-19, according to economists.
PetroVietnam Technical Services Corporation (PTSC) announced revenue of 5.47 trillion VND (238 million USD) in the second quarter of this year, up 13.4 percent year-on-year.
Vietnam is a highly potential market for small- and medium-sized enterprises (SMEs) of Germany, President of the German Association for Small- and Medium-sized Businesses (BVMW) Mario Ohoven said at a workshop in Berlin on July 16.
It is unlikely that State budget revenue will reach the 2020 target approved by the National Assembly of over 1.51 quadrillion VND (64.89 billion USD) due to the impact of COVID-19, Minister of Finance Dinh Tien Dung has said.
The agriculture ministry has devised measures to turn Vietnam into one of the world’s most 15 developed countries in terms of agriculture by 2030, and among the top 10 farm produce processing hubs.
A number of firms in Ho Chi Minh City are planning to reboot production and trade as well as recruit more workers after COVID-19 has been under control.
A database of Vietnamese manufacturing and supporting industries was launched on June 19 with a view to helping enhance links between businesses, including between domestic and foreign concerns.
The Masan Tungsten Company Ltd., a wholly-owned subsidiary of the Masan Resources Corporation (MSR), has completed the legal steps to acquire the tungsten business of Germany’s H.C. Starck Group GmbH, according to the corporation.
The Ministry of Finance has suggested adding four sectors into the list of industries eligible for extension of tax and land lease payment deadlines with a total sum of 180 trillion VND (7.82 billion USD).
The northern province of Bac Giang set a target of attracting 1 billion USD in both newly-registered and additional investment in 2020, Director of the provincial Department of Planning and Investment Trinh Huu Thang has said.
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