Hanoi will carry out an array of industry and trade development measures with a view to building Hanoi into an international trade hub in the region and the country, as well as concretising the resolution adopted at the municipal Party Organisation's 17th congress.
The authorities of northern Bac Ninh province always create favourable conditions for, and work to promptly remove difficulties facing foreign businesses, including those from the Republic of Korea (RoK), to effectively operate in the locality, Secretary of the provincial Party Committee Dao Hong Lan has said.
The first meeting of the Vietnam-Germany Joint Committee for Economic Cooperation was held online on January 12, during which participants discussed the cooperation possibilities in industry and trade, manufacturing-processing, energy, and education-training.
Though COVID-19 has sent the global economy into one of its worst recessions ever, Vietnam posted GDP growth of 2.91 percent in 2020 thanks to its solid control of outbreaks and timely support to both enterprises and local people.
Five exhibitions - the Vietnam International Machinery Fair, Vietnam Supporting Industry Fair, Vietnam International Retailtech and Franchise Show, Vietnam International Premium Products Fair, and Vietnam International Maternity Baby and Kids Fair - opened in HCM City on December 17.
A forum on the linkage and investment opportunities for small and medium enterprises (SMEs) was held in Ho Chi Minh City on December 9 as part of the US Agency for International Development (USAID) Linkages for Small and Medium Enterprises (USAID LinkSME) project.
Companies in the supporting industry will get an interest rate subsidy from next year in an effort to promote the development of the part-supply industry, said Pham Tuan Anh, Deputy Director of the Industry Agency under the Ministry of Industry and Trade.
Indian Minister of State for External Affairs V.Muraleedharan affirmed India’s commitment to the ASEAN integration and connectivity agenda at the 6th India-CLMV Business Conclave held online on December 3-4.
Foreign direct investment in supporting industries is expected to spike in the coming months as more and more foreign companies establish production facilities in Vietnam and seek to develop supply chains here, experts said.
The southern province of Binh Duong has carried out a lot of mechanisms and policies to help enterprises operating in the supporting industries solve difficulties and grow further.
Vietnam needs to have a law on the supporting industry to aid its development, according to the chairman of the Vietnam Chamber of Commerce and Industry (VCCI).
The northern coastal province of Quang Ninh has given top priority to develop the manufacturing and processing industry, making it one of the three key pillars in the industry sector.
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.
Experts say the fourth industrial revolution will provide more development opportunities to businesses but will also require they have the human resources necessary to meet higher industry standards, according to experts.
The Sai Gon Hi-tech Park and industrial parks and economic zones in the southern provinces of Long An, Binh Duong, Dong Nai and Ba Ria-Vung Tau will work together to develop supporting industries under an agreement clinched on October 28.
Virtual exhibitions for the manufacturing, metalworking and supporting industries, the 2020 METALEX Vietnam - Supporting Industry Show, that opened on October 23 promise to serve as an effective networking platform for local and international companies.
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.
Vietnam has taken measures to improve the capacity of its supporting industries to make domestic enterprises effectively participate in global value chains.
Binh Duong province is pushing ahead with the development of supporting industries to increase the use of local content in manufacturing to reduce costs.
Vietnamese Ambassador to China Pham Sao Mai met with Governor of Jiangsu province Wu Zhenglong on October 12 to discuss measures aimed at boosting the cooperation between Vietnamese localities and the Chinese province.
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