Support industries

(VEN) - The southeastern province of Binh Duong so far has attracted 4,047 foreign investment projects with the total capital of more than US$39.5 billion, ranking second among localities nationwide. This requires the province to develop local supporting industries.

(VEN) - The supporting industry is now attracting a large amount of foreign direct investment (FDI). However, the State needs to issue breakthrough policies for further development of FDI enterprises.

The Industry Agency under the Ministry of Industry and Trade and Toyota Motor Vietnam signed on Tuesday a memorandum of understanding on a cooperation project to help domestic businesses in the automobile supporting industry improve their capacity and enhance the connectivity between them and car assemblers.

(VEN) - The capital of Hanoi will prioritize the development of the support industry serving its key sectors – component and spare part manufacture, leather/footwear, textile/garment, and high-tech industries.

(VEN) - With a multitude of major electronics companies investing in Vietnam, such as Samsung, Apple, LG and Intel, the Vietnamese electronics industry has the potential to become a manufacturing hub in Asia.

Vietnam-Japan Supporting Industry Exhibition (SIE) and Vietnam Manufacturing Expo (VME) are set for August 9-11.

(VEN) - According to economic experts, the development of the supporting industry needs the Government’s support through a set of cohesive and stable policies that facilitate sustainable business growth.

(VEN) - Vietnam needs to improve policies in order to further facilitate development of the automobile support industry.

(VEN) - Supporting industries have significant potential for breakthroughs if they can increase foreign investment, forge joint ventures, coordinate technological exchanges, and improve production capacity.

(VEN) - Vietnamese experts are urging speedy drafting of a law to bolster the country’s supporting industry, which lags behind those of other industrialized states.

(VEN) - The localization rate of some domestically manufactured and assembled vehicle lines has increased impressively in recent years due to enhanced supply by domestic supporting industry, according to a report of the Ministry of Industry and Trade (MoIT).

Fifty foreign businesses and many major airlines in the world are participating in the AeroExpo Hanoi & Vietnam Aviation Forum 2023, which opened in the Vietnamese capital city on March 21.

Reed Tradex Vietnam, the ASEAN's leading exhibition organizer announced the kick-start of Vietnam Manufacturing Expo (VME) & NEPCON Vietnam exhibition 2023.

Hanoi, 21 March 2023 - Leading aerospace company, Airbus, is reinforcing its commitment to expanding its supply chain in Vietnam. This is part of the company's ongoing effort to optimise its operations and better serve its customers.

(VEN) - Vietnam is mulling legislation to boost the low localization rate of its industrial production and means to modernize its support industries and increase their participation in the local and foreign value chain.

The processing and manufacturing sector is attractive to foreign investment, but domestic supporting industries still need favourable mechanisms to develop, heard a workshop in Ho Chi Minh City on March 9.

(VEN) - The government’s backing, especially investment capital and legislation on raw material production, is important and necessary to develop textile and garment support industries.

(VEN) - In order to develop Vietnam’s automobile support industry, domestic enterprises need the help of leading enterprises and state policies.

Hanoi has set a target to have about 950 enterprises operating in the field of supporting industries this year, an increase of approximately 20 compared to 2022.

(VEN) - “Entering 2023, Vietnam needs to promote the development of support industries to help the country’s industrial sector effectively participate in the global supply chain,” said Deputy Director of the Industry Agency under the Ministry of Industry and Trade (MoIT) Ngo Khai Hoan in an interview with Vietnam Economic News’ Lan Anh.

(VEN) - The north-central Vietnamese province of Nghe An is creating favorable conditions to attract investment especially foreign direct investment (FDI) in industrial development in order to fulfill its targets.

(VEN) - Vietnam has opportunities to develop its support industries, but manufacturers need additional incentives to overcome difficulties.

(VEN) - According to the Ministry of Industry and Trade’s (MoIT) Agency for Regional Industry and Trade (ARIT), by 2030 Vietnam will have about 2,000 support industry enterprises, including some 300 enterprises participating in multinational supply chains.

(VEN) - The model of coordination between authorities at both central and local levels and large enterprises in promoting support industries is becoming increasingly effective.

(VEN) - The Hau Giang Province Department of Industry and Trade has drafted a long-term industrial zone (IZ) development plan to shift production facilities from residential areas to IZs and minimize environmental pollution.

(VEN) - The Ministry of Industry and Trade (MoIT) has adopted a strategy to enhance the self-sufficiency of the country’s support industries in order to reduce the dependence on imports and thereby improve product competitiveness in global value chains.

(VEN) - The Covid-19 pandemic has affected the supply of goods of large enterprises in the global support industry, providing an opportunity for Vietnam's support industries to promote internal resources to meet buyers’ needs.

(VEN) - The metal components produced by Vietnam’s mechanical industry meet the needs of many manufacturers, but experts say that State policies are needed to create resources for further investment and development in this field.

(VEN) - The development of support industries plays a very important role in Vietnam’s efforts to become a modern industrialized country by 2045, a goal set out by Politburo Resolution 23-NQ/TW on national industrial development policies.