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When will Vietnam’s industry be totally self-sufficient?


To achieve an autonomous industry, it is required to build industrial zones with strong enough corporations to lead the industries to expand accordingly, in addition to focusing on investment and development of strong industries.

The processing and manufacturing industries have repeatedly worked to achieve the nation’s industrialization and modernization goals, and they have come to recognize their critical role in the Vietnamese economy progressively. The XIII Congress Resolution set the objective that by 2025, the processing and manufacturing sector’s share of GDP would reach 25%. It also assigned the task of restructuring the industry, raising the technological bar, accelerating the shift to the digital industrial sector, and enhancing economic autonomy so that it could participate fully and productively in global value chains. 

According to Mr. Pham Tuan Anh, Deputy Director of the Department of Industry (Ministry of Industry and Trade), the industry has generated significant export items and has grown consistently over the years. Industrial development has resulted in structural transformation and enhanced labor productivity, which has improved people’s living conditions and strengthened firm competitiveness.

cong nghiep viet nam khi nao moi thuc su tu chu hinh anh 1
The goal is that by 2025, the proportion of the processing and manufacturing industry will reach 25% of GDP.

However, Mr. Pham Tuan Anh discovered that Vietnam’s industry’s largest difficulty is still a lack of internal resources, and economic restructuring is still overly reliant on foreign-invested firms (FDI). Heavy industry’s contribution to the economy, particularly in recent years, has been very low, and enterprise production capacity and human resources have not kept up with current demand.

Vietnam currently lacks an industrial firm with a large and strong enough brand name to have high added value, and production is still primarily reliant on imported inputs, resulting in uncompetitive industrial products with low added value. The industrial development process has yet to capitalize on the competitive benefits of linking economic sectors with regions to form industrial production chains.

“This is quite a tough goal, but it also poses a task for the country’s industry, needing the efforts and participation of the whole political system in the new period. “The role of domestic firms, in particular, needs to be recognized and promoted more effectively in order to develop an autonomous industry,” Mr. Pham Tuan Anh stated.

According to Mr. Dinh Quoc Thai, General Secretary of the Vietnam Steel Association (VSA), despite beginning with an outdated small industry and a low level of science and technology, Vietnam’s steel industry now meets the highest domestic and international standards, with an annual export turnover of tens of billions of USD. Mr. Thai, on the other hand, stated that in order to meet the new circumstances, firms in the industry must continue to be proactive in inputting materials in order to have a strategy to balance production and business. Furthermore, businesses in the industry must enhance marketing and marketing in order to quickly comprehend the increasingly diverse needs of domestic and overseas markets.

“It is vital to quickly create a development strategy for the development of Vietnam’s steel sector to 2030, with a vision to 2050, including specific policies. “The State continues to promote policies to develop supporting industries, including a priority mechanism for the development of processing and manufacturing facilities for details, components, and spare parts using domestic steel as raw materials for other sectors of the national economy that use steel as a material,” Mr. Thai said.

Mr. Nguyen Van, Vice Chairman of the Hanoi Supporting Industry Enterprises Association (HANSIBA), stated that due to the characteristics of supporting industry enterprises focusing on production, there are still many businesses that have not paid much attention to the issue of accessing mechanisms and policies, despite the fact that they have been issued quite fully.

Specifically, because of the procedures for issuing preferential certificates for products, many firms in the supporting industry continue to have trouble accessing the State’s support policies. To obtain this Certificate, businesses must complete up to 20 – 30 administrative procedures. Furthermore, supporting industry firms continue to face challenges in obtaining incentives such as loans, land, processes for importing used technological equipment, and so on. As a result, Mr. Van recommended and hoped that our country would soon promulgate the Law on Development of the Supporting Industry and its accompanying papers, so that all levels and branches may work together to institutionalize and foster the development of the supporting industry.

“The supporting industry businesses also requested the Government to establish an inter-sectoral national steering committee on industrial development. To expand the industrial sector, the state must plan especially for each region and field, developing major economic zones as the locomotive for the development of supporting industry. At the same time, preferential finance for supporting industry firms, in addition to the credit limit, ODA capital can be explored, as well as promoting startups in the supporting industry to make the supporting industry ecosystem more diverse and modern”, noted Mr. Van.

cong nghiep viet nam khi nao moi thuc su tu chu hinh anh 2
It is necessary to bring Vietnam’s industry to access modern production technologies.

In the direction of an autonomous industry, Deputy Director of the Department of Industry (Ministry of Industry and Trade) Pham Tuan Anh stated that, in addition to prioritizing domestic autonomous development, industrial development must be combined with 4.0 achievements, particularly the trend of greening in production. As a result, while selecting industries for future industrial development, strong and developing industries should be prioritized.

“It is vital to bring Vietnam’s industry to access current production technologies. There must be enterprises with the potential to grow into powerful enough corporations among the foundation industries that prioritize development, causing the industries to expand correspondingly. “Along with the development of the foundation industry, it is still important to establish industries whose products are input materials for other sectors, such as supporting industries, mechanical engineering, chemicals, and materials industry,” Mr. Pham Tuan Anh says.

Furthermore, Mr. Pham Tuan Anh advocated preserving businesses that benefit from cheap raw materials and labor, such as textile, garment, footwear, agro-forestry-fishery processing, and pharmaceuticals… Furthermore, aims to catch up with new technological advances in the fields of biology, electronics, materials…/.

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]
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