August 21 seminar discusses ways and means of linking enterprises from both sides to develop Vietnam's support industries.
The Central Institute for Economic Management (CEIM), in cooperation with the Embassy of Japan in Vietnam and the Japan International Cooperation Agency (JICA), organized a seminar on August 21 entitled “Enterprise Links in Strengthening the Development of Support Industries in Six Sectors in the Vietnam - Japan Industrialization Strategy”.
The six key sectors are electronics, shipbuilding, agricultural machinery, agriculture and fisheries processing, environment and energy saving, and automobile manufacturing and component production.
The seminar was an opportunity to assess the current situation and discuss how to further strengthen links between domestic and foreign enterprises.
Deputy Head of CIEM, Dr. Nguyen Thi Tue Anh, affirmed that Vietnam faces many challenges in its industrial development and competition so it is important to take a new and more effective approach to the development of its industry. Cooperation between Vietnam and Japan, in particular strengthening business links to promote the development of support industries, is both necessary and important.
She also highlighted that these six sectors have potential for rapid growth, are much-needed in the country, and are major contributors to export activities. The expansion of these industries must therefore be consistent, with increasing added value and with greater support coming from the State via its industrial policy.
The Embassy committed to cooperate closely with JICA to assign experts to provide assistance. It also hopes that Vietnam will arrange relevant programs and plans for sustainable development.
Deputy Head of the Market and Price Research Institute at the Ministry of Finance, Dr. Nguyen Dinh Anh, expressed concern about certain difficulties, such as limited resources and unclear policies. With the existing industrial policy it will be difficult to develop support industries, especially in the six priority sectors, or create enterprise links. Policies must therefore be adjusted to overcome the drawbacks and limitations and create the conditions to encourage the development of support industries.
These six sectors are also areas in which Japanese enterprises are looking to boost their investment in Vietnam, so there are significant opportunities for enterprises from both sides, especially Vietnamese enterprises.