industrial enterprise

Vietnam will have 2,000 industrial enterprises to ensure the supply of multinational corporations

By 2030, Vietnam will have 2,000 enterprises capable of directly supplying assembly businesses and multinational corporations in the territory of Vietnam.

Vietnam plans to have 2000 industrial enterprises to ensure the supply of multinational corporations. Photo: Vir

Prime Minister Nguyen Xuan Phuc has just signed to promulgate Resolution 115/NQ-CP on solutions to promote the development of supporting industries with many new policies that are expected to create a big push for supporting industries and the processing industry, manufacturing

The resolution sets out the goal that by 2025, 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; There are about 1,000 enterprises capable of directly supplying assembly enterprises and multinational corporations in the territory of Vietnam, of which domestic enterprises account for 30%.

By 2030, supporting industrial products will meet 70% of the demand for domestic production and consumption; accounting for about 14% of industrial production value. There are about 2,000 enterprises capable of supplying directly to assembly enterprises and multinational corporations in the territory of Vietnam.

Solutions to meet the requirements of multinational corporations

To accomplish the above objectives, the Resolution offers groups of main solutions, including:

Develop, complete and implement effectively and synchronously specific mechanisms and policies to develop supporting industries and processing and manufacturing industries with priority development to ensure favorable conditions for the development of the industry.

To continue implementing preferential interest rate policies for supporting industry enterprises and processing and manufacturing industries with priority development when borrowing short-term capital from credit institutions; The State shall subsidize the interest rate difference (up to 5%/year) for medium and long-term loans of enterprises to implement projects to manufacture supporting industrial products with priority for development.

To attract investment effectively and promote business connections and linkages between Vietnamese enterprises with multinational enterprises, domestic and foreign production, and assembly companies; to build concentrated supporting industrial parks to create industry clusters; develop material industries to increase autonomy in raw materials for production, reduce dependence on imported sources, improve domestic added value, product competitiveness and taste position of Vietnamese enterprises in the global value chain.

To promote the development of domestic and foreign markets in order to create conditions for the development of supporting industries and prioritized development of processing and manufacturing industries; looking for and expanding overseas markets on the basis of taking advantage of the signed FTAs; implementing measures to support supporting industries and processing and manufacturing industries to prioritize the development of effective participation in free trade agreements…

To build and effectively operate regional and local technical assistance centers for industrial development in order to support supporting industry enterprises and processing and manufacturing industries to prioritize the development of innovation; research and development (R&D), technology transfer, enhancing competitiveness and productivity and quality of products, creating opportunities to participate deeply in the global production chain.

Focus on improving scientific and technological capacities for manufacturing and supporting industries, with priority given to manufacturing in order to create a breakthrough in technology infrastructure, technology transfer, and capacity to technology of supporting industry enterprises .etc.

Developing human resources in the supporting industry and processing and manufacturing industries through national programs and plans on skill improvement, promoting the link between training institutions and enterprises.

Develop and perfect a statistical system, supporting industry database and prioritize development of processing and manufacturing industries to foster connectivity between Vietnamese suppliers and multinational corporations; enhancing the effectiveness and efficiency of state management and building policies on supporting industries; improve the quality of the statistics, ensure timely, complete and accurate the information.

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