Monday, August 19 2019

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Capital city strives for 900 firms in supporting industries by 2020

Update: May, 06/2019 - 07:46

 

 

Workers inspect parts at a factory in Hà Nội. Photo hapi.gov.vn

 

HÀ NỘI -- The capital city has set a goal of having about 900 firms in supporting industries by late 2020, according to the municipal Department of Industry and Trade.

 

Of them, some 400 would be eligible to have production systems and their products in line with international standards, as well as have sufficient supply capacities in global production networks from multinational corporations in Việt Nam, the department said.

Top priority should be given to fostering trade promotion, co-operating with foreign firms and encouraging them to invest in the city’s supporting industries, the department’s deputy director Đàm Tiến Thắng told the Vietnam News Agency.

Local firms should innovate and seek ways to improve their competitiveness and getting access to multinational businesses in order to gain a better understanding of their partners’ product requirements, according to Thắng.

He added that supporting industries, which have played a crucial role in the city’s industrial restructuring progress, are expected to make significant contributions to enhance competitiveness, attract investment, raise exports, as well as expand the production scale and effectiveness of industries. Thus, the city has drawn up incentives policies for those firms in the sector.

The city has thus far established a number of industrial parks specialising in supporting industries, such as Quang Minh and Bắc Thăng Long-Nội Bài, to attract large domestic and foreign investors. -- VNS

 

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