Supporting industries need ‘leverage’ to create momentum
The capacity of Vietnam’s supporting industry companies has increased greatly thanks to the efforts of the enterprises themselves and significant market opportunities along with support from the government. However, domestic supporting industry products remain quite basic, with medium and low technology and small value in the product value structure. Stronger solutions are therefore needed to improve capacity and help the industry make breakthroughs. The Ministry of Industry and Trade recently submitted a report to Deputy Prime Minister Tran Hong Ha on receiving comments on draft amendments to Decree No. 111 from the government on the development of supporting industries, with many new incentive policies proposed.