Over 1mln USD for developing industrial strategies
The Ministry of Industry and Trade (MOIT) and the United Nations Industrial Development Organisation launched a project on supporting the Vietnamese Government in building industrial strategies.
Hanoi (VNA) – The Ministry of Industry and Trade (MOIT) and the United Nations Industrial Development Organisation (UNIDO) launched a project on supporting the Vietnamese Government in building industrial strategies and related policies through institution cꦫapacity development in Hanoi on June 17.
The project aims to improve the quality of industrial development strategies and policies to increase the local industry’s competitiveness, thus contributing to reducing poverty and improving gender quality by generating new production activities and jobs.
The three-year project has a total investment of nearly 1.1 million USD, of which 980,000 USD is coming from the Republic of Korea ’s Official Development Fund (ODA) through the UNIDO, and a corresponding fund of 100,000 USD will be covered by Vietnam .
Speaking at the launch ceremony, Head of International Cooperation Department under the MOIT Le Huu Phuc said the ministry pledges to do its utmost to support the work, adding that Vietnam would see its industry sector grow thanks to the project.
Vietnam has enjoyed high industrial growth but added values and technology application rates have remained low, he said, noting that reasonable and feasible policies are crucial to the country to develop its industrial sector with higher added values and competiveness.
Ludovico Alcorta, Director of the UNIDO’s Development Policy, Statistics and Research in Austria , hoped that Vietnam and the UNIDO will work closely to realise the project’s goals.
RoK Consul General to Vietnam Park Sang-shik said the RoK will share its experience in technological development with Vietnam as well as provide full support for the Southeast Asian country to implement the project.-VNA
Industrial production has seen significant progress in the third quarter of this year compared to the two previous quarters. However, there is no room for complacency as industrial production, considered as a key factor to develop the national economy, has declined since 2011. The Vietnam Economic News reports.
Vietnam will prioritise the development of its processing, electronics-telecommunication and renewable energy industries, according to a strategy on industrial development to 2025 with a vision to 2035 approved by Prime Minister Nguyen Tan Dung.
Vietnamese Government is keen on developing Industrial Parks and Economic Zones in the central coastal region, Tran Duy Dong, Deputy Director of Economic Zone Management Department under the Ministry of Planning and Investment, said in his talk with the Vietnam Investment Review recently.
Electronics and telecommunications, industrial processing and manufacturing and new energy development are highlighted in the master plan of Vietnam's industrial development to 2025 with a vision to 2030, the Vietnam Economic News reported.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
Illustrative image (Source: VNA)
