Vietnam’s industry has gained significant achievements over the past decade with industrial production value increasing 3.5 times, contributing approximately 32 percent to the country’s GDP. However, the development pace has slowed in recent years.

Vietnam is ranked 101st among 143 countries in terms of per capita added value in processing and manufacturing industries. The issue is a concern with the country only in the initial phase of industrialisation.

The ministry of Industry and Trade is drafting a plan on the country’s industrial restructuring during 2016-2020, which needs to be fine tuned with a focus on spare part manufacturing industry to create conditions for enterprises to propose investment projects.-VNA