Funding to go towards developing strategy and policies for industrial sector.
The Prime Minister has approved the contents of a project funded by the United Nations Industrial Development Organization (UNIDO) to assist the building of development policies and the strategy for the industrial sector through institutional capacity building. The project is to have total investment of $1.08 million and be carried out over 36 months.
It aims to raise institutional capacity of both the government and the private sector, improve the strategy for the sector as a whole and develop suitable policies for each specific industry, and ultimately enhance the competitiveness of Vietnam’s industrial sector.
According to the Industrial Development Strategy to 2025 and Vision to 2035, Vietnam’s industrial sector will develop with a sound structure in terms of industry and region. It should be sufficiently competitive to develop during integration, possess modern technologies, participate in global value chains in a number of specialized sub-sectors and fields, and fundamentally meet the requirements of the economy and exports.
By 2035, Vietnam’s industrial sector is to have a majority of specialized industries meeting international standards in terms of technologies and product quality, fully participate in global value chains, use energy efficiently, and compete fairly in international integration.