So­lu­tions pro­posed to de­velop sup­port in­dus­tries

Viet Nam News - - Business -

HCM CITY —- Sup­port in­dus­tries are the back­bone of the coun­try’s in­dus­try, ac­cord­ing to Tröông Thanh Hoaøi, deputy direc­tor of the Heavy In­dus­try De­part­ment of the Min­istry of In­dus­try and Trade.

Fur­ther, sup­port in­dus­tries play a key role in rais­ing the com­pet­i­tive­ness of in­dus­trial prod­ucts and are a de­ci­sive fac­tor in the devel­op­ment and en­hance­ment of the na­tion ’ s com­pet­i­tive­ness. With­out hav­ing sup­port in­dus­tries, it would be im­pos­si­ble to op­er­ate man­u­fac­tur­ing in­dus­tries, Hoaøi said dur­ing a work­shop to dis­cuss solu- tions to de­velop sup­port in­dus­tries in Vieät Nam, held by HCM City Eco­nom­ics Univer­sity and the Eco­nomic Com­mis­sion of the Party Cen­tral Com­mit­tee in HCM City yes­ter­day.

Re­gard­ing de­vel­op­ing so­lu­tions for sup­port in­dus­tries in Vieät Nam, Pro­fes­sor Voõ Thanh Thu said de­vel­op­ing sup­port in­dus­tries must fo­cus on key in­dus­tries in Vieät Nam, in­clud­ing those at­tract­ing large for­eign in­vest­ments, such as gar­ments and tex­tiles, engi­neer­ing and elec­tronic assem­bly. These in­dus­tries have a large de­mand for sup­port in­dus­tries, as well as pro­vide a need to mod­ernise tech­nolo­gies and train highly- qual­i­fied work­ers to pro­duce stan­dard­ised prod­ucts.

Thu em­pha­sized that in­vest­ment in tech­nol­ogy re­quired large amounts of cap­i­tal. To as­sist en­ter­prises, the Min­istry of Fi­nance and the State Bank of Vieät Nam should work out poli­cies to cre­ate favourable con­di­tions for en­ter­prises to have ac­cess to long- term loans with pref­er­en­tial in­ter­est rates. A rep­re­sen­ta­tive of the HCM City De­part­ment of In­dus­try and Trade told those at the sem­i­nar that sup­port in­dus­tries in Vieät Nam were mainly cater­ing to ex­port pro­cess­ing tech­nolo­gies, while man­u­fac­tur­ing in­dus­tries largely re­lied on im­ported raw ma­te­ri­als and com­po­nents.

In ad­di­tion, the coun­try has not yet de­vel­oped spe­cial­ized in­dus­trial com­plexes, re­sult­ing in un­der­de­vel­oped sup­port in­dus­tries.

The HCM City De­part­ment of In­dus­try and Trade has pro­posed a se­ries of mea­sures to de­velop sup­port in­dus­tries by of­fer­ing in­cen­tives to at­tract FDI busi­nesses. It is stated that FDI busi­nesses are an im­por­tant driv­ing force to pro­mote do­mes­tic sup­port in­dus­tries.

The de­part­ment has also sug­gested that the Govern­ment con­sider a mas­ter plan for sup­port in­dus­tries and of­fer credit loan poli­cies for busi­nesses to de­velop sup­port in­dus­tries and hu­man re­sources in sup­port in­dus­tries.

Hoaøi said the Min­istry of In­dus­try and Trade is now de­vel­op­ing a de­cree on the devel­op­ment of sup­port in­dus­tries, and is ex­pected to sub­mit to the Govern­ment in the fourth quar­ter of this year.

Hoaøi added that the de­cree would fo­cus on mea­sures to sup­port tech­nol­ogy, pro­duc­tion man­age­ment and cus­tomer ser­vices to avoid short­com­ings in lo­cal sup­port in­dus­try com­pa­nies.

Fur­ther­more, the de­cree would sup­ple­ment in­cen­tives on cor­po­rate in­come taxes and con­struc­tion reg­u­la­tions on the build­ing of sup­port in­dus­try com­plexes to at­tract global multi­na­tional cor­po­ra­tions to pro­vide parts and ma­te­ri­als to in­vest in Vieät Nam. —

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