vietnam's supporting industries

Update news vietnam's supporting industries

Developing supporting industries needs to be a priority

A report of the Ministry of Industry and Trade (MoIT) shows that the number of enterprises in the supporting industry sector accounts for only about 4.5 per cent of the total number of companies in the manufacturing and processing industry.

Supporting industries become more attractive

Vietnam's supporting industries (SI) are becoming increasingly attracting to foreign direct investment (FDI). However, stronger policies are necessary to enable domestic enterprises to make significant breakthroughs in this sector.

Support enterprises face fewer orders, told to grasp chances from new industries

2023 was a tough year for enterprises in supporting industries because of low demand, according to the Vietnam Association of Supporting Industries (VASI) report to the Ministry of Industry and Trade (MOIT).

Automobile, motorbike supporting industries ripe for move to next stage

To deeply participate in the global supply chain, Vietnamese businesses are forced to improve their competitiveness, promote large-scale production and focus more on products with high technology content.

Supporting industry association fears wave of Chinese enterprises

Chair of the Vietnam Association of Supporting Industries Phan Dang Tuat is worried about the wave of Chinese enterprises flocking to Vietnam.

VN supporting industry: low quality, high price

The scale and capacity of Vietnamese supporting industry enterprises are still limited.

Ample room remains for Vietnam-Japan cooperation in supporting industries

There remains ample room for Vietnamese and Japanese enterprises to foster cooperation in supporting industries that are increasingly developing and playing an important role in Vietnam's participation in the global supply chain.

Policies proposed to promote VN supporting industries

The proposed support policies, including an interest rate subsidy of 3 per cent, are expected to create a stimulus to part-supplying enterprises to improve their competitiveness and participate in supply chains of multinational corporations (MNCs).

Firms in supporting industries in dire need of skilled workers

Firms in supporting industries in Vietnam are in desperate need of high-qualified and skilled workers in addition to solutions regarding capital and raw materials.

Tremendous potential in Vietnam's supporting industries

Small- and medium-sized enterprises (SMEs) in supporting industries can benefit from multinational groups’ China plus-one strategies that include Vietnam, wrote Filippo Bortoletti, Country Director of the Dezan Shira & Associates Vietnam.

To develop Vietnam's supporting industries

The supporting industries are having fresh opportunities amid the inflow of foreign capital and orders into Vietnam. However, local enterprises have to overcome multiple challenges to be able to take advantage of such opportunities.