The government of HCMC recently issued a list of key industrial and agricultural products that will receive support for their continued growth and domination of the local market, as well as being promoted for exports.

Beverages and dairy products are put on display at a fair in HCMC in the file photo. The city’s government has issued a list of key industrial and agricultural products

Regarding the industrial sector, seven groups of key products are listed in the fields of electricity, plastics and rubber, food and beverages, electronics and technology, alongside one potential product group in pharmaceutical chemistry.

The introduced products must have high competitiveness and enormous potential for local consumption as well as for exports and are expected to contribute substantially to the gross domestic product and the city’s economic development.

The key industrial goods chosen must have met common standards. For instance, they are manufactured by enterprises in the city, provide added value, have high productivity, boast innovative designs and meet the consumption demand at home and abroad.

In addition, the selected products can make significant contributions to the city's industrial sector, accounting for at least 5% of the whole sector as verified by data from the General Statistics Office. Apart from that, products recognized as key items must come from manufacturers recommended by business associations, in addition to having high added value.

For the agricultural sector, the three groups of key products are plants (vegetables, flowers, ornamental plants), cows (cows of various breeds, cow milk) and pigs (pigs of various breeds, pork), and brackish water shrimp products. Ornamental fish is defined as the potential product group.

The groups of key agricultural items also have to meet multiple criteria, such as making up a large proportion of the sector’s production value, having the potential for market expansion, generating hefty profits and offering solutions to minimize environmental pollution.

To bolster the growth of key industrial goods, the city’s government asked the municipal Department of Industry and Trade to conduct research and introduce policies supporting these products, so they can lead the local market and be shipped to foreign countries.

Among the suporting policies, five solutions need particular emphasis: site selection, capital mechanisms, science and technology, manpower training, and trade promotion and brand development.

SGT