Mechanical engineering sector to join global value chain
The Vietnamese engineering sector aims to engage deeper in global value chain and specialised industries that use advanced technologies to make quality products, under a strategy to develop the sector by 2025 with vision toward 2035 recently approved by the Prime Minister.
The Vietnamese engineering sector aims to engage deeper in global value chain by 2025 with vision toward 2035. (Photo: VNA)
Hanoi (VNA) – The Vietnamese engineering sector aims to engage deeperin global value chain and specialised industries that use advanced technologiesto make quality products, under a strategy to develop the sector by 2025 withvision toward 2035 recently approved by the Prime Minister.
The sector should work thriftily and efficiently as well as build a professionaland disciplined workforce, per the strategy.
Exports are expected to account for 35 percent of total production by 2020 andthe proportion will increase to 40 percent by 2030 and 45 percent by 2035.
Under the strategy, focus will be given to developing automobile engineering,agricultural machines, industrial products and electronic appliances, while engineeringsupport companies will be established to provide supplies for production units andto join the global value chain.
Relevant authorities must complete mechanisms to support the mechanicalengineering sector like giving preferential taxes and simplifying investmentprocedures. The policies must aid the support industry and production valuechain participation as well as increase domestic production.
The PM ordered the development of basic materials and advanced technologies forthe sector.
Attracting powerful multi-national corporations to invest in the country’s bigengineering projects should be paid attention as well. Investment promotionshould be prioritised for small and medium enterprises, especially those in thesupport industry.
The State will help enterprises purchase designs and technologies, and renovateproduction facilities to improve products’ quality and competitiveness.-VNA
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The Vietnamese engineering sector aims to engage deeper in global value chain by 2025 with vision toward 2035. (Photo: VNA) 
