Wednesday, July 18 2018

VietNamNews

Industry plans get green light

Update: August, 05/2014 - 09:35
Viet Nam expects to develop the electronics industry with advanced technology and higher labour productivity by 2020 to better compete in regional and global markets.— Photo baocongthuong

HA NOI (VNS)  — The Government has approved four action plans in an effort to fulfill the Viet Nam Industrialisation Strategy formed as a part of the Viet Nam – Japan cooperation framework until 2020 with a vision to 2030, according to the Government news portal.

The action plans set targets for four industries: electronics, agricultural machinery, agro-processing, and energy production.

Electronics production

Viet Nam expects to develop the electronics industry with advanced technology and higher labour productivity by 2020 to better compete in regional and global markets.

Production is projected to increase at least 20 per cent annually and contribute a minimum of 10 per cent to Viet Nam's overall industrial output by 2020.

Under the plan, the country would expect to become a major producer of electronic equipment using smart and environmentally friendly technologies by 2030.

To achieve the targets, the country will focus on developing its supporting industries, human resources and domestic and foreign export markets; attracting leading electronics manufacturers; developing key products and establishing electronic industry clusters.

Agricultural machinery

The Government is encouraging manufacturers to meet demand among the nation's farmers for agricultural machinery while authorities have been tasked to develop a legal framework to foster the development of agricultural machinery businesses.

By 2020, total agricultural output is expected to rise to US$430 billion from $220 billion in 2010, with the average income per capita to reach $3,000 per year.

The agriculture sector is also projected to contribute 15 per cent to gross domestic product, while the rate of labour intensive works is expected to fall from the 2010 level of 49 per cent to as low as 30 per cent in 2020.

Promoting trademarks

The plan also aims for Viet Nam to become a trusted supplier of premium agricultural products and develop 3-5 agriculture and fishery products that would help promote a trademark for Vietnamese produce.

While typical products would include rubber, coffee, tea, shrimp, and vegetables and fruit, the plan also intends for products to certified by VietGap, GlobalGap, and Rainforest. The role of enterprises will also being strengthened to promote a more seamless link between production and markets.

The global demand is expected to increase to $997 billion by 2015, up from $860 billion in 2010.

Environmental issues

The Government's fourth plan aims to improve its preferential policies to attract investment to the development of environmentally sustainable and energy-saving industries.

It will also improve the capacity to enforce legislation on environmental protection and reducing energy use.

Addressing the Viet Nam – Japan cooperation framework until 2020 with a vision to 2030, Japanese Prime Minister Shinzo Abe said that his country would continue to closely cooperate in the implementation of Viet Nam's action plans for agro-fishery processing, electronics, automobile production, agricultural machinery, environmental conservation and shipbuilding. — VNS

Send Us Your Comments:

See also: