Vietnam’s mechanical engineering industry is striving to apply advanced technology, produce high-quality products meeting international standards and join the global value chain by 2035. (Photo: vneconomy.vn) Hanoi (VNA) – Vietnam’s mechanical engineering industry is striving to applyadvanced technology, produce high-quality products meeting internationalstandards and join the global value chain by 2035.
The targets were set out in a strategy approved bythe Prime Minister for the industry’s development by 2025, with a vision to2035.
The industry will also focus on the efficient useof energy, maintaining competitiveness during international integration andestablishing a disciplined, professional and qualified work force that isproactive in conducting research, designing products and manufacturing.
Exports are expected to account for 35 percent ofthe total production by 2020. This proportion will increase to 40 percent by2030 and 45 percent by 2035.
Under the strategy, the focus will be ondeveloping automobile engineering, agricultural machines, industrial productsand electronic appliances to meet the basic domestic demand, as well as createvolume for export. Meanwhile, engineering support companies will be establishedto provide supplies for production units to join the global value chain.
Relevant authorities must complete mechanisms tosupport the mechanical engineering sector, by giving preferential taxes andsimplifying the investment procedures. The policies must aid the supportindustry and encourage participation in the production value chain, as well asin the development of domestic production.
The PM has ordered the development of basicmaterials and advanced technologies for the sector.
The sector must also attract powerfulmulti-national corporations to invest in the country’s big engineeringprojects. Investment promotion should be prioritised for small and mediumenterprises, especially those in the support industry.
The State will support enterprises to renewtechnology and their production facilities, as well as to apply advancedtechnology and management in production to improve efficiency in the use ofenergy and input materials, product quality and competitive ability. It will also support businesses in diversifyingproducts, as well as building and developing brands.
The State has a credit policy for mechanicalequipment manufacturers who want to develop their production and business. Itwill establish an information system for the mechanical engineering sector tohave a database for state management agencies and enterprises.-VNA
VNA
