Support industries

(VEN) - Under its master plan for the 2021-2030 period, with a vision toward 2050, which has been approved by the Prime Minister via Decision 1287/QD-TTg dated November 2, 2023, Da Nang City is set to become a high-tech and supporting industry hub of the whole country.

(VEN) - The northern province of Hung Yen enjoys a favorable geographical location for socioeconomic development, especially industrial growth. The province is situated in the Northern key economic region, with ideal conditions for supporting industry (SI) development in various sectors, such as mechanics, electronics, metal production, and energy, helping Vietnam promote both domestic production and exports, and integrate into global value chains.

(VEN) - In recent years, the industrial sector, including supporting industries, has made significant contributions to the economic development of Ho Chi Minh City (HCMC). Therefore, the city has prioritized the development of supporting industries.

HCM City – Local authorities in the southeastern region are making plans to promote the development of support industries for industrial production, which play a crucial role in the economic restructuring towards industrialisation and modernisation.

A report of the Ministry of Industry and Trade (MoIT) shows that the number of enterprises in the supporting industry sector accounts for only about 4.5 per cent of the total number of companies in the manufacturing and processing industry.

(VEN) - Although the automobile market faced many difficulties and challenges in early 2024, the automobile supporting industry is standing a good opportunity for transformation.

(VEN) - Vietnam is launching a series of strategic kick-off sessions to advance its role in the global semiconductor industry, focusing on workforce development and public policy.

(VEN) - Ha Tinh has determined that the development of supporting industry has important meaning in attracting investment in the province, boosting the development of local small- and medium-sized enterprises (SMEs), contributing to increasing the proportion of the industrial sector in the economic structure.

Linkage with multinational corporations is the shortest way for Vietnamese supporting industry enterprises to participate in the global supply chain, according to economic experts.

(VEN) - Vietnam, as a new manufacturing hub in Asia, plays an increasingly important role in global supply and smart manufacturing chains. Smart manufacturing helps Vietnam attract foreign direct investment (FDI) and creates opportunities for domestic businesses to join global supply chains. To seize these opportunities, however, Vietnam needs to implement appropriate and timely policies.