These companies provided essential, high-quality parts for larger enterprises to allow them to carry out business in Vietnam.

Vietnam aims to have 2,000 supporting businesses.

According to Resolution 115/NQ-CP, Vietnamese enterprises will be able to produce highly competitive supporting industrial products, meeting 45% of the essential needs for domestic production and consumption, accounting for about 11% of industrial production value by 2025.

About 1,000 enterprises are expected to be capable of supplying directly to assembly enterprises and multinational corporations, of which domestic enterprises account for about 30% by 2025.

By 2030, supporting industrial products will meet 70% of the demand; accounting for about 14% of industrial production value.

About 2,000 enterprises will be capable of supplying directly to assemblers and multinational corporations in the territory of the country by 2030.

To accomplish the above objectives, the resolution offers groups incentives including developing, improving and implementing effectively and synchronously specific mechanisms and policies to develop supporting industries and create favourable conditions.

The resolution also notes the implementation of preferential interest rate policies for supporting industry enterprises and processing and manufacturing industries.

Another solution is attracting investment effectively and promoting business links between Vietnamese and multinational enterprises, domestic and foreign production and assembly companies; building concentrated supporting industrial parks; and developing material industries to increase autonomy in raw materials.

Resolution 115/NQ-CP also emphasises promoting the development of domestic and foreign markets.

It will also improve scientific and technological capacities to develop and create a breakthrough in technology infrastructure, technology transfer, and enhance capacity to absorb technology.

In addition, the resolution also highlights developing human resources through national programmes and plans on skills improvements and links between training institutions and enterprises.

Finally, building and perfecting the statistical system to promote the connection between Vietnamese suppliers and multinational corporations; enhancing the effectiveness and efficiency of state management and policies on supporting industries; and improving the quality of statistics to ensure timely, complete and accurate information.

Smart tourism - a lever to develop Hanoi’s non-smoke industry

The Hanoi Department of Tourism and the Vietnam Posts and Telecommunications Group’s Hanoi branch (VNPT Hanoi) have worked together to carry out a smart tourism project with a view to promoting the capital city’s non-smoke industry.

Industry, trade ministry launches anti-COVID-19 website

The Ministry of Industry and Trade on February 12 launched a website on the fight against the acute respiratory disease caused by the new coronavirus (COVID-19) at http://hanhdong.moit.gov.vn/.

Thai Nguyen festival honours tea processing industry

The 4th Thai Nguyen – Vietnam Tea Festival will be organised in the northern province of Thai Nguyen on April 17-19 to promote Vietnamese tea products, honour villages, producers and the tea processing industry as well as introduced local tea to domestic and international market.

Wood processing industry targets 20 billion USD in export by 2025

With the current good growth, the wood processing industry will achieve its export goal of 20 billion USD by 2025, said Minister of Agriculture and Rural Development Nguyen Xuan Cuong at a working session with the Vietnam Timber and Forest Product Association (VIFORES) in Hanoi on January 9.

Textile-garment industry expands 7.55 percent in 2019

Vietnam’s textile and garment industry is estimated to grow about 7.55 percent this year, according to President of the Vietnam Textile and Apprarel Association (VITAS) Vu Duc Giang.

Source: NDO/VNA