Vietnam urged to develop support industries

In recent years, the development of science, technology and related support industries has contributed significantly to the economy of ASEAN member nations, including Vietnam.

 However, Vietnam’s support industries have faced many challenges and the country's advantages have not been fully tapped. Delegates shared this view at a forum co-organized by Reed Tradex (Thailand), the Japan External Trade Organization (JETRO) and the Hanoi Department of Industry and Trade (HTPC).

Hanoi is one of the biggest cities and has great potential for developing distribution and subsidiary industries. It has taken measures to stimulate the development of support industries and major industrial products to help businesses use modern technology to improve their productivity, quality and competitive edge.

According to the Ministry of Industry and Trade (MoIT), Vietnam’s support industries depend on imports for nearly 80 percent of their raw materials. For example, the automobile industry uses only 5 to 10 percent locally produced materials and components.

In an interview with reporters, Luu Tien Long, director of the HTPC, emphasized that Vietnam’s support industries are not effective because of their poor competitive edge and outdated technologies.

Mr Chainarong Limpkittisin, Director of Reed Tradex said, in order to develop its support industries, Vietnam needs to carefully consider such factors as quality, production cost, delivery time and production skill. He also added that the Vietnamese Government has paid special attention to support industries and that local producers must strengthen cooperation to improve their competitive edge and increase productivity.

The chief representative of JETRO in Hanoi said that Japan will continue transferring new technologies to Vietnam, adding that Japanese businessmen have already visited factories in Vietnam, providing technical and managerial support for developing support industries.

(VOV)

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