Vietnam, Japan cooperate to boost supporting industry
A study on how to develop the supporting industry in Vietnam suggested cooperation with Japan in the field, heard a seminar held in Hanoi on September 16.
Hanoi (VNA) – A study on how to develop the supporting industry in Vietnam suggested cooperation with Japan in the field, heard a seminar held in Hanoi on September 16.
The research, conducted by the Central Institute for Economic Management (CIEM) and the Mitsubishi Research Institute, Inc. (MRI), analysed the current challenges encountered by the supporting industry in Vietnam and proposed cooperation policies between Vietnam and Japan in order to improve the sector.
According to Vice President of CIEM Nguyen Thi Tue Anh, there is a lack of connection among enterprises operating in the sector.
She also said the ability of Vietnamese enterprises to supply intermediate products and their possibility to enter the global supply chain are weak.
The country has a number of policies to support small- and medium-sized enterprises (SMEs), however, the efficiency of the policy implementation is not high, she added.
At the event, experts from the MRI proposed the application of the model of public technology centre in Vietnam.
In the model, which has been successful in Japan, SMEs are able to use the centre’s services to do research and experiments.
According to the Japan External 🏅Trade Organisation (JETRO), the local content of products made by Japanese businesses in Vietnam was very low, reaching only 32.1 percent in 2015.-VNA
The supporting industry makes up approximately 80 percent of newly-licensed FDI projects in southern Dong Nai province, said the provincial Department of Planning and Investment.
During the workshops, participants were updated on information of Vietnam’s recent economic development and business climate, and those related to preferential policies in investment attraction.
The Far Eastern Group from Taiwan (China) is accelerating a 760 million USD project serving cloth and fibre production in southern Binh Duong province’s Bau Bang Industrial Park.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Illustrative image (Photo: cafef.vn)
