With an 8.1% growth rate in 2022, the processing and manufacturing industries will continue to be the economic growth engine. However, in the face of unfavorable global market effects, it is vital to supply raw materials for production against hazards in advance.

Although it is acknowledged that the industry, particularly the processing and manufacturing industries, generated approximately 25.6% of GDP in 2022, processed industrial items account for 89% of the structure of Vietnam’s export group. However, representatives of the Industry and Trade industry have openly acknowledged the difficulties faced by industrial production enterprises in the past year, ranging from reduced orders to access to capital, and that industrial production capacity has been slow to improve, particularly in fundamental industries, which continue to import large amounts of machinery, equipment, spare parts, and raw materials for domestic production.

According to Phan Thi Thanh Xuan, Vice President and General Secretary of the Vietnam Leather, Footwear, and Handbag Association, in addition to emphasizing the domestic market, this is one of the “knots” in the footwear sector that must be untied by 2023.

“We need to be proactive in creating raw materials and accessories in Vietnam, both to proactively supply and raise product values. The second strategy is that we continue to encourage supporting actions to invest in the creation of supporting industrial parks, particularly for high-value product lines such as leather goods… we need industrial parks and space to attract development investment.

Third, implementing digital transformation is one of the strategies for improving management quality, lowering expenses, and increasing business capacity. And for small and medium-sized businesses, we notice that it is still quite poor and has issues with delivering information and marketing the industry’s image. “However, the order of Vietnam with competitive advantages is still in place to serve the leather and footwear industries,” said Ms. Phan Thi Thanh Xuan.

According to Mr. Ha Vu Son, Director of Can Tho City’s Department of Industry and Trade, access to capital remains an outstanding challenge in 2023 that must be overcome in order to establish conditions for firms to sustain production and operations.

“The current funding situation is really problematic. Despite the Prime Minister’s directive, the State Bank of Vietnam also attended the Mekong Delta Provinces Conference, but capital remains a challenge for businesses. This is a critical issue, so the Can Tho Department of Industry and Trade advises the Ministry of Industry and Trade to continue advising the Prime Minister and the State Bank on how to direct the credit institution system to assist businesses in overcoming difficulties; this blood vessel is very difficult to block,” Mr. Ha Vu Son said.

From the reality of industrial growth of 61/63 localities in 2022, it is necessary to continue to promote the advantages of the potentials and strengths of the locality to develop strong industries, thereby bringing general industrial growth of the country both in the short term and in the long term.

“In terms of industry, Dak Nong now possesses a huge quantity, the current reserve is about 5 billion tons of bauxite,” Ho Van Muoi, Chairman of the Dak Nong Provincial People’s Committee, proposed. This is a fantastic opportunity for us to establish ourselves as an aluminum deep-processing enterprise. If we can do this successfully, the Ministry of Industry and Trade recommends the Government do well and aid Dak Nong, then in the future, Dak Nong will be one of the aluminum deep processing centers, and this property is not only of Dak Nong but of the whole country, it needs to be exploited soon”.

Noting down the suggestions and comments of localities and businesses, the Ministry of Industry and Trade stated that it will drastically and effectively implement the program to support the capacity improvement of industrial enterprises, encourage localities with industrial development potential to guide the formulation of industrial development strategies and programs in accordance with their competitive advantages and lo

At the same time, continue to promote the construction and effective operation of technical centers to support industrial development in the North and South as a focal point to connect with local centers of technology, and production techniques, connecting supply – demand as well as acting as a trading floor for industrial products and supporting industries in the region, expected to start construction in the first quarter of 2023; Accelerate the construction of Industrial Development Support Centers in key economic regions, playing the role of supporting innovation and providing technical assistance to industrial enterprises, especially medium and small enterprises. 

Do Thang Hai, Deputy Minister of Industry and Trade, stated that the Ministry of Industry and Trade will urgently complete the Industrial Development Law project in order to institutionalize and implement Politburo’s Resolution 29-NQ/TW.

“The Ministry of Industry and Trade focuses on finalizing the Industrial Development Law project in order to submit reports to the competent authorities for consideration and approval by the National Assembly in the period 2023-2024 as a unified legal basis for industry development activities in the new era; mobilize all resources to invest in production and business activities, particularly investment in large projects of spillover nature in order to create new growth.” – said Deputy Minister Do Thang Hai.

Nguyen Hong Dien, Minister of Industry and Trade, stated that in 2023, it will prioritize ensuring supply, particularly for items and materials that are likely to be short-term temporary or long-term in order to have appropriate supply promotion policies. Continue to establish programs that connect local firms to supply chains of FDI and large global enterprises.

Simultaneously implement measures to stabilize output and ensure the balance of supply and demand for critical basic commodities such as gasoline, power, coal, fertilizer, and energy for production and people’s everyday lives.

Source VOV

MTA Hanoi is an annual trade event for the manufacturing industry in Northern Vietnam in the fields of precision mechanics, machine tools, and metalworking. With a diverse product portfolio and hundreds of leading technology products and machine tool equipment in the world, MTA Hanoi 2023 will bring the most modern and diverse solutions, machines, and production technologies in the world. for the domestic manufacturing industry. Exhibition date: 11 -13 October 2023 Opening hours: 9:00 – 17:00 daily Venue: International Center for Exhibition (I.C.E), Hoan Kiem, Hanoi, Vietnam Contact information: Tel: +84 28 3622 2588 Email: [email protected] Website: www.mtahanoi.com Facebook: facebook.com/MTAHanoi