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Hanoi has set a target to have about 950 enterprises operating in the field of supporting industries this year, an increase of approximately 20 compared to 2022.

Global investors are planning to restructure their investment flows, a move predicted to take place strongly from now to 2023 and create opportunities for Vietnam, heard a conference on September 21.

Toyota Vietnam and the Ministry of Industry and Trade’s Department of Industry on September 7 launched a consulting programme for auto support industry enterprises.

The northern province of Vinh Phuc will mobilise different economic sectors to boost support industries.

The Ministry of Industry and Trade has advised the Government to take drastic actions to improve the role and position of support industry.

The shortage of high-quality workforce is a “bottleneck” faced by domestic support industry enterprises, said economists.

The Government have issued a host of preferential policies for businesses operating in supporting industries over the past time. However, their beneficiaries have said it is difficult for them to access incentives and support from these policies.

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.

The northern province of Thai Binh has applied measures to boost the development of its industrial sector and support industry in particular, focusing on industries supporting garment and textile and mechanical engineering, as part of efforts to become a locality with strong industrial growth in 2025.

The Vietnam International Expo on Support Industries and Processing - Manufacturing (VIMEXPO 2021) is scheduled to take place from October 27-29 at the International Centre for Exhibition (ICE) in Hanoi.

The Hanoi Plastics Joint Stock Company (HPC) aims to constantly create, innovate technology and improve technical capacity, especially in the field of precision mechanics and mould production to further penetrate the global supply chain.

Toyota Motor Vietnam Co., Ltd. and the Ministry of Industry and Trade’s Industry Agency on May 17 signed a memorandum of understanding (MoU) on their cooperation project to improve the capacity of domestic enterprises operating in supporting industries and strengthen their linkages with automobile assemblers.

The 2020 Hanoi Support Industry Fair opened in the capital city on October 28, attracting the participation of nearly 190 enterprises and 20 buyers.

The Vietnam Support Industry Show 2020 and the METALEX Vietnam 2020 was held online from October 23-24 to connect Vietnamese and Japanese firms in the support industry in the new normal situation.

Credit grew only 1.96 percent as of May 29 as compared with late 2019, due to the impact of the COVID-19 pandemic, according to Deputy Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong.

To develop the support industry for the leather and footwear sector, the State should have policies to encourage the development of new materials, according to the Vietnam Leather and Footwear Association (Lefaso).

Vietnam's support industry is struggling to attract foreign investment as multinational companies look for alternative options during the COVID-19 pandemic.

The Industry and Trade Ministry will promote the restructuring of industrial production sectors, especially the support industry, due to difficulties in production during the COVID-19 pandemic.

Domestic firms in the southern province of Dong Nai are finding it hard to join the supply chain providing products to the support industry, according to the local People’s Committee.

The Ministry of Industry and Trade (MoIT) will continue to support local businesses after the coronavirus epidemic is stamped out, Minister Tran Tuan Anh has said.