return icon

Four industries face reforms

 VietNamNet Bridge – Four major industries are seeing a slowdown in HCM City and restructuring them has become more essential than ever, experts said.

VietNamNet Bridge – Four major industries are seeing a slowdown in HCM City and restructuring them has become more essential than ever, experts said.


The food industry will focus on development of food processing and beverages.— Photo baocongthuong


The HCM City Institute for Development Studies said the mechanical engineering, electronics – information technology, chemicals, and food sectors are severely affected by their heavy reliance on imported raw materials, lack of support industries, and low labour productivity.

Many firms are tardy in adopting new technologies, meaning their competitiveness remains low, said Cao Minh Nghia, head of the institute's project to restructure the four industries.

With outsourcing and assembling remaining their main modes of production, their earnings are low, he said.

The project seeks to restructure the four industries to make them sustainable and improve labour productivity and growth quality.

The food industry will focus on development of food processing and beverages, and rubber-chemicals firms will produce drugs, cosmetics, and high-grade plastics.

The mechanical engineering industry will develop machine tools and electrical equipment, while the electronics and IT industry will focus on software and hardware.

The programme has set targets for the four industries — by 2015 food processing should account for 18 per cent of the city's total industrial output, chemicals for 25 per cent, mechanical engineering for 23 per cent, and electronics and IT for 7 per cent.

It calls for further development of support industries with preferential loans.

In the 2016-20 period, the city needs to zero in on key industries to focus on improving design and manufacturing capacity, it said.

Industry groups have also suggested various measures like launching programmes to stimulate sales, bank loan interest subsidy for companies, and others.

The HCM City Rubber Plastic Manufacturers Association has urged the Government to quickly put up trade barriers to protect the domestic industry.

It also sought support for improving production and management capacity and preferential policies to develop support industries for the technology sector and those making value-added products.

The Viet Nam Association of Mechanical Industry has called for Government support in training human resources and marketing.

Source: VNS


Nguyen Thi Tam wins silver at World Boxing Champs

Vietnamese boxer Nguyen Thi Tam lost 0-5 to world defending champion Nikhat Zareen (India) in the final match of the IBA Women’s World Boxing Championships on March 26 evening.

Da Nang releases MV to stimulate tourism

A music video entitled “Tuyet voi Da Nang" (Da Nang FanstastiCity) was officially released on several media platforms on March 25, aiming to promote images of the central beach city to both domestic and foreign tourists and stimulate travel demand.

Sapling from world's longest-living Bodhi tree planted in Bai Dinh pagoda

A sapling marcotted from a 2,300-year-old Bodhi tree (also known as sacred fig with the scientific name of Ficus religiosa), the oldest of its species in the world, has been planted at the Bai Dinh pagoda in the northern province of Ninh Binh.

Cruise ship brings more than 2,000 int’l visitors to Ha Long

Malta-flagged cruise ship Mein Schiff 5 docked at Ha Long international port in the northern province of Quang Ninh province on March 26, carrying 2,191 European visitors to the locality.

Mekong Delta develops trademarks for specialties

Building and developing trademarks and obtaining certificates of origin are considered effective ways to create added value for products, thus expanding markets for specialties of the Mekong Delta.

Vietnam named in Agility’s top 10 Emerging Markets Logistics Index 2023

Vietnam has been ranked in the top 10 places in the 2023 Agility Emerging Markets Logistics Index compiled by Agility, one of the world’s top freight forwarding and contract logistics providers.

Boxer Nguyen Ngoc Hai wins WBA belt

Nguyen Ngoc Hai defeated Campee Phayom of Thailand with a knock-out victory at Vietnam's largest professional boxing tournament LEAD: Born to Lead to win the vacant World Boxing Association Asia South super lightweight title in HCMC on March 25.

Cumbersome procedures destroy creativity

Principles and regulations are set to serve development, but, ironically, many of them have become obstacles that hinder development.

AIS issues warning about software security flaws in Vietnam

The Authority of Information Security (AIS) has requested agencies, organizations and businesses to check systems affected by six security vulnerabilities in Microsoft’s products, and update them with patches to avoid the risks of being attacked.

VN corporate bond market warms up after lackluster year

Real estate firms and leading enterprises issued nearly one billion USD worth of corporate bonds within two weeks after the government released a decree, removing obstacles for enterprises.


Roof proposed for HCM City Walking Street

New tech promises fewer delays at country’s biggest airports

The Civil Aviation Authority of Vietnam has just approved to pilot the implementation of the Airport Collaborative Decision Making (A-CDM) model at the country's two biggest airports of Tan Son Nhat and Noi Bai.

VN National Tourism Year 2023 kicks off in Binh Thuan

The ’Bình Thuan-Green Convergence’ themed programme seeks to drive green growth and promote tourism development through collaboration with other economic sectors for sustainable progress.


Gov’t instructs acceleration of public investment disbursement

35 Vietnamese students compete at Int’l Robothon 2023

Thirty-five Vietnamese contestants will compete in the Leanbot category as part of the International Robothon 2023 contest due to get underway in Malaysia on March 26.