Support industries

As an investment attraction of numerous leading technology corporations, Vietnam sees many opportunities to attract foreign direct investment (FDI) into electronic components manufacturing.

The North-South express railway project will create a significant opportunity for Vietnam's mechanical and construction industries to advance in technology.

HÀ NỘI — The demand for transport in Việt Nam has been increasing rapidly, with experts saying that the market shows a lot of potential for automobile and motorbike manufacturers and traders.

(VEN) - In recent years, Vietnam has emerged as a bright spot in the global electronics supporting industry (CNHT) and is becoming an ideal destination for large technology corporations. This has opened further opportunities for Vietnamese enterprises to participate in global supply chains.

(VEN) - The State’s incentive policies and the efforts of enterprises have brought positive results to the supporting industry of Ha Nam Province. Especially, in the province’s industrial parks (IPs), supporting industry enterprises have developed rapidly in terms of both quantity and quality.

(VEN) - A new playground has been created for Vietnamese supporting industry enterprises by the growth of a number of new industries, such as semiconductors, renewable energy, and electric vehicles.

(VEN) - The participation rate of the electronics, information technology, telecommunications, specialized electronics industries, etc. in the supporting industry supply chain is now only about 15 percent; and of domestic high-tech industries also at only about 10 percent.

(VEN) - Domestic supporting industry enterprises have been increasingly applying modern standards and management tools to production and manufacturing, thereby participating deeply in the global production network and value chain.

(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.

(VEN) - Ninh Binh holds a strategically important position, connecting the Northern, Central, and Northwestern regions of Vietnam. Located within the Hanoi - Hai Phong - Quang Ninh - Thanh Hoa economic development quadrilateral, the province has favorable conditions for the development of supporting industries.

Vietnam's supporting industries (SI) are becoming increasingly attracting to foreign direct investment (FDI). However, stronger policies are necessary to enable domestic enterprises to make significant breakthroughs in this sector.

(VEN) - The supporting industry for Vietnam’s mechanical engineering sector is facing numerous challenges related to policies, workforce, production costs, and industry linkages.

(VEN) - As one of the important industries, Vietnam’s supporting industry is facing difficulties and has yet to have clear mechanisms and policies for adequate development.

(VEN) - More than 74 percent of the US$40.6 billion worth of foreign direct investment (FDI) in the southern province of Binh Duong is found in the processing and manufacturing sector, while FDI in high technology and supporting industries (SI)remains modest.

(VEN) - In recent years, the Republic of Korea (RoK) and Vietnam have cooperated in developing supporting industries, facilitating Vietnamese enterprises’ participation in global supply chains.

(VEN) - Competitiveness improvement is crucial for Vietnamese supporting industry enterprises to survive competition in foreign markets.

(VEN) - The long-history mechanical engineering industry is identified as the “backbone” of the economy.

(VEN) - Given stiff competition from foreign enterprises, to help domestic supporting industry enterprises participate more deeply into the global supply chain, experts said Vietnam needs to ensure the consistence of legal documents.

(VEN) - The shortages and uneven quality of human resources are among major difficulties faced by support industry enterprises.

(VEN) - Support industries have contributed significantly to the economic development of the capital of Hanoi.