HÀ NỘI — An EU-funded project, titled “Việt Nam’s Supporting Industries to Europe”, has reportedly improved the manufacturing capacity of the sector after three years of implementation.

During a seminar held in Hà Nội on Monday to review the project, Director of the Supporting Industry Enterprises Development Centre (SIDEC) Trương Thị Chí Bình said out of more than 200 participating enterprises, 98 per cent have increased sales, while 38 per cent have recorded higher export earnings.

The project has connected spare parts manufacturers with buyers worldwide, particularly those in the European market, and assisted in building relevant policies.

Thanks to the project’s support, the Việt Nam Association for Support Industries (VASI) was launched in March 2017 which links together businesses, organisations and individuals working in the field.

Up to 30 training courses in manufacturing-trade have benefited 1,500 people while 67 stalls were organised for businesses in eight international fairs in Europe.

Đỗ Thị Thúy Hương from the Việt Nam Electronics Industries Association said the project has made it easier for Vietnamese firms to supply products to Samsung.

Participants suggested that ministries and agencies concerned offer support in training, connectivity and joining international fairs.

According to Bình, Việt Nam is strong in products requiring both machinery and hand assembly, such as electronic circuits, which sell well at international fairs.

The Government was urged to offer incentives to businesses regarding loans, technology and training in order to facilitate Việt Nam-European Union (EU) trade.

The VASI also needs to improve its consultancy capacity and training for manufacturing firms.

The “Việt Nam’s Supporting Industries to Europe” project was funded by the EU with a total cost of more than 412,000 euros.

Carried out from June 2014 – June 2017, it aims to improve the capacity of Việt Nam’s small and medium-sized enterprises in the support industry, particularly in engineering, electricity-electronics, plastics and rubber. — VNS