Policy revision hoped to help supporting industry thrive after COVID-19
Boosting the development of the supporting industry is considered an important solution to help improve the quality and competitiveness of the Vietnamese economy and better serve the processing-manufacturing sector.
Boosting the development of the supporting industry is considered an important solution to help improve the quality and competitiveness of the Vietnamese economy. (Photo: VNA)
Hanoi (VNA) – Boosting the development ofthe supporting industry is considered an important solution to help improve the quality and competitiveness of the Vietnamese economy and better servethe processing-manufacturing sector.
To promote the supporting industry’s growth, the Ministry ofIndustry and Trade (MoIT) is building a draft decree on amendments and supplementationsto the current regulations on the development of the industry in a synchronic,comprehensive and strategic manner.
Vu Thu Nga, Deputy General Director of Deloitte Vietnam, heldthat a number of recent decrees as well as efforts in completing the legalcorridor for the development of the supporting industry have brought about positiveeffects. However, a number of regulations have still shown limitations in theimplementation process, requiring adjustments.
According to Nga, in order to help the sector thrive, it isnecessary to apply preferential policies on outsourcing activities for industriesprioritised for development, while reviewing and re-evaluating supply and valuechains to add products of the supporting industry to the list of developmentpriorities, and amending a number of regulations of relevant decrees to makethem coherent with investment and tariff regulations.
Besides, authorised agencies should consider providing additional preferential and support policies for businesses, as well as adjusting and supplementing conditions of receiving incentives toattract more high-quality and effective projects in the field of supportingindustry towards the goal of “green” and “clean” development set by theGovernment.
At the same time, businesses should actively review theirconditions to evaluate their eligibility to enjoy incentives, and clearlyunderstand changes in policies and impacts on their chances to receivepreferential policies, she said.
Nga also advised businesses to report obstacles anddifficulties facing them in the implementation of the policies and makeproposals on new policies to the MoIT and business associations./.
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The complicated developments of the COVID-19 pandemic has been posing both challenge and opportunity for the supporting industry sector in Hanoi, requiring businesses in supply chains to promptly adapt and make flexible changes.
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Boosting the development of the supporting industry is considered an important solution to help improve the quality and competitiveness of the Vietnamese economy. (Photo: VNA) 
