Support industries

(VEN) - The presence of domestic textile and garment enterprises in the global production chain has increased but remains incommensurate with their potential.

(VEN) - A delegation of the Ministry of Industry and Trade (MoIT) led by Minister Nguyen Hong Dien recently worked with the Vietnam Leather, Footwear and Handbag Association (Lefaso) on problems related to the supplies of materials and accessories in the leather and footwear industry.

(VEN) - Despite the fact that many mechanical engineering enterprises have strong capabilities in certain areas, such as molding, mechanical components, electrical cables, and plastic components, supporting industry products for the mechanical engineering sector still lack competitiveness.

(VEN) - There are now many difficulties impacting the domestic automobile industry; therefore, the formulation of the development strategy for Vietnam’s automotive industry to 2030 with a vision to 2045 is urgent and of great scientific and practical significance.

(VEN) - Apart from the support in terms of mechanism and policy, supporting industry firms want relevant authorities to provide them with more information about market demand.

(VEN) - The leather and footwear industry, a leading exporter of Vietnam, has reached an average export growth of more than 10 percent per year. The sector set a target of increasing its local content rate to 75-80 percent in 2025.

(VEN) - Mold manufacturing technology is a particularly important manufacturing industry, considered the foundation of modern industry, with the capability to create large quantities of products in a short time.

(VEN) - Joining global supply chains remains a challenging issue for Vietnamese supporting industry businesses.

(VEN) - Vietnam’s supporting industry needs to advance their self-reliance and reduce dependence on imports to improve the value and competitiveness of products in the global value chain.

(VEN) - Mechanical support industry provides components for downstream industries. However, this industry is facing difficulties leading to weak capacity to participate in the supply chain.

Việt Nam's supporting industry needs to advance self-reliance and reduce dependence on imports to improve the value and competitiveness of products in the global value chain.

(VEN) - The digital transformation review toolkit for Vietnam’s manufacturing and supporting industries will play an important role in enterprises’ journey towards smart and sustainable production models to boost their international competitiveness in global value chains.

(VEN) - The output of automobiles manufactured/assembled in Vietnam kept increasing in recent years, creating favorable conditions for domestic component and spare part suppliers to join supply chains. Localization is no longer a dream for the Vietnamese automotive industry.

(VEN) - The fourth Vietnam International Supporting Industry and Manufacturing Exhibition (VIMEXPO 2023) took place in Hanoi from November 15-17. The event connected Vietnamese companies with multinational firms and foreign businesses in supporting, processing and manufacturing industries.

(VEN) - Developing supporting industries is important for economic restructuring towards industrialization and modernization, contributing to increasing the proportion of the processing and manufacturing industry in Vietnam’s economic structure.

In the last months of 2023, a lot of supporting industry giants have announced their strategies to penetrate the Vietnamese market, given the fact that the country has become a strategic destination in the global supply chain.

(VEN) - Recently, more than 140 exhibitors of advanced technologies and equipment in the field of engineering and manufacturing from 17 countries and territories participated in the ninth Vietnam International Precision Engineering, Machine Tools and Metalworking Exhibition & Conference (MTA Hanoi 2023) to seek opportunities for cooperation with Vietnamese partners.

(VEN) - The leather and footwear industry has set a target to increase the localization rate of raw materials and auxiliary materials to 75 to 80 percent.

Taking place at the Saigon Exhibition & Convention Centre, the 16th edition of Vietnam’s International Exhibition on Machine Tools & Metalworking Solutions for Production Upgrade (METALEX Vietnam 2023) and International Electronics Manufacturing Technology Trade Exhibition and Conference (NEPCON Vietnam 2023) are organized by RX Tradex Vietnam – ASEAN’s leading exhibition organizer.

(VEN) - Recently, a number of mechanical products manufactured by Vietnam have had good quality, equivalent to that of some countries in the region.

Việt Nam's support industry has grown steadily over the past decade to around 5,000 companies, producing components for domestic demand and exports.

(VEN) - Recently, the Ministry of Industry and Trade (MoIT) has proposed to the Government amendments to the Decree No.111/2015/NĐ-CP on the development of supporting industry.

(VEN) - A seminar was held recently in Hanoi to discuss ways to attract investment in high technology and supporting industries, and the experience and solutions for participation in the production and supply chains of major enterprises and large corporations. Participants presented many opportunities to connect Vietnamese and Japanese businesses in these fields.

There remains ample room for Vietnamese and Japanese enterprises to foster cooperation in supporting industries that are increasingly developing and playing an important role in Việt Nam's participation in the global supply chain as well as the global value chain, insiders have said.

The Automotive World China 2023, slated to be held October 11-13 in Chinese Shenzhen City, would provide Vietnamese businesses with opportunities to discover innovative applications, accelerate smart automation upgrading in auto manufacturing, optimise the supply chain.

(VEN) - The Red River Delta province of Hung Yen expects to have had 30 industrial parks (IPs) covering 9,540ha by 2030 and 35 IPs with a total area of 12,000ha by 2050. Tran Quoc Van, Chairman of the provincial People’s Committee, shared this information at the first meeting of the Coordinating Council for the Red River Delta Region that took place recently in Hanoi.

The 2023 Sourcing Fair of Supporting Industries (SFS) was held in Ho Chi Minh City on August 25, attracting some 20 buyers and 130 suppliers.

(VEN) - In 2023, Hanoi expects to have about 350 companies with production facilities and products meeting international standards and capable of participating in the global manufacturing networks of multinational groups in Vietnam.

Vĩnh Phúc is now one of the key industrial hubs in the North thanks to large foreign direct investment (FDI) inflows into manufacturing.

Supporting industries play a significant role in the economic restructuring towards industrialisation and modernisation, contributing to enhancing labour productivity, competitive capacity, and value creation, and increasing the contribution of the processing and manufacturing industries to the wider economy.