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.
Binh Duong province is pushing ahead with the development of supporting industries to increase the use of local content in manufacturing to reduce costs.
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.
The People’s Committee of the northeastern province of Quang Ninh on September 22 held a ground-breaking ceremony for an automobile supporting industry complex of Thanh Cong Group JSC.
The Ministry of Industry and Trade (MoIT), the People’s Committee of Bac Ninh province, and Samsung Electronics Vietnam have jointly signed a memorandum of understanding (MoU) on a programme to support Vietnamese businesses operating in the northern province.
The 2020 Sourcing Fair Supporting Industries (SFS 2020) was held on September 17 to help companies in supporting industries expand their markets and join global supply chains.
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).
Vietnam's 5G network is forecast to have a bright future with Government and regulator support while domestic manufacturing of 5G handsets could lower device costs and lend tailwinds to adoption.
Nine years after the issuance of a Government decision that set out preferential credit policies to provide more financial support for Vietnamese firms in the supporting industry, few have been able to make use of said policies, industry insiders have said.
The industry and trade sector of the northern province strives to gross over 122.6 trillion VND (5.27 billion USD) in industrial production value in 2020, a year-on-year rise of 13 percent.
The leather-footwear industry of Vietnam has established its foothold in the global market, but challenges are still lying ahead, requiring it to work harder to grasp big chances created by new-generation free trade agreements (FTAs).
The 2019 Vietnam International Machinery Fair and 2019 Vietnam Supporting Industry Fair opened in Ho Chi Minh City on December 11, offering opportunities for companies in the manufacturing and supporting industries to compare notes and explore business opportunities.
The southern province of Dong Nai has seen swift disbursement of foreign direct investment (FDI) which surpassed the province’s plan, said local officials.
The Ministry of Industry and Trade (MoIT) in collaboration with the Vietnam Association for Supporting Industries (VASI) on October 2 organised a conference in Montreal, Canada, to seek business cooperation in supporting industry between Vietnam and Quebec province.
Electrical and electronic businesses in the supporting industry of the northern midland province of Vinh Phuc have gained over 2.58 billion USD in revenue so far this year, surging 8 percent from the same time last year.
The Sourcing Fair for Supporting Industry with Buyers that is underway in Ho Chi Minh City seeks to enhance supply chain linkages in supporting industries, enhance direct connections between foreign and other manufacturing firms and Vietnamese parts suppliers.
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