supporting industries

Update news supporting industries

VietNamNet Bridge - Vietnamese manufacturers say they are capable of making components or spare parts for multinational groups, but have chosen not to do so because the local market is not large enough.

Rolls-Royce hesitant to talk about Vietnam’s role in global production chain

When asked where Vietnamese enterprises would be in Rolls-Royce’s global production chain, a representative from the British group said Rolls-Royce was learning about experienced partners in the aviation sector in Vietnam.

Samsung once again haggles over investment incentives

VietNamNet Bridge - Samsung seems to take full advantage of its status as a big investor to claim unprecedented investment incentives.

Vietnam can produce PhDs but cannot produce fasteners: NA deputy

VietNamNet Bridge - “Vietnam can produce PhDs. Why can’t it produce screws then?” Tran Quoc Tuan asked at a recent National Assembly session on policies to develop supporting industries.

Samsung shortlists 20 Vietnamese suppliers

Last year when Samsung Electronics announced plans to create a new US$3bn smartphone factory in the north-eastern province of Thai Nguyen, close to the capital city of Hanoi, many industry insiders were ecstatic.

BUSINESS IN BRIEF 2/2

HCM City banks urged to slash bad debt; New FDI approvals surge 67% in January; Vietnam companies dragged down by old technology; Banks speed up lending ahead of Tet; ANZ: Vietnam consumer confidence drops slightly

Frustrated with gov’t policy, automakers set up factories elsewhere

While Vietnamese ministries argue about policies on the development of the automobile industry, many auto manufacturers that once intended to invest in Vietnam have changed their mind and left the country.

Vietnam's support industry needs capital, better technologies

VietNamNet Bridge – Though Vietnam still has cheap labor, its support industry remains undeveloped as it lacks capital and technologies, experts say.

BUSINESS IN BRIEF 24/9

Car imports skyrocket in 8 months; Vietnam ascends to largest fish supplier of Colombia; Many new projects added to coal development plan; PM instructs to cut half business starting, dissolving time; Debt support out of shrimp, tra fish farms’ reach

Vietnamese companies want to make parts and accessories for Samsung

Hundreds of Vietnamese enterprises are anxious to organize production and make parts and accessories to provide to Samsung, now that the South Korean giant has stepped up its business in the country.

BUSINESS IN BRIEF 5/9

 Amata to pour US$530 mil into Vietnam; Ministry of Finance clamps down on beer consumption; Stock market yet to function as major fund raising channel; Vietnam-China trade surges in Jan-Aug;
August sees more business suspensions than start-ups

More projects planned for supporting industries though success is uncertain

 VietNamNet Bridge – Vietnam is still determined to develop supporting industries to become more attractive to foreign investment, despite past failures.

BUSINESS IN BRIEF 30/5

Real estate starts to recover; Thai businesses seek franchise partners in Vietnam; Vietnam, RoK develop agricultural value chain; Supporting industries to be developed; SOEs make good move towards capital withdrawal

Foreign investors leave the auto market

 VietNamNet Bridge - A series of large investors such as Toyota, Madaz and Ford have abandoned auto projects in Vietnam, or do not intend to invest more because of concerns about the underdeveloped support industries.

Half-way policies make Vietnam’s supporting industries pale

A lot of mistakes were made in the past, leading the failure of the plans on the development of many key industries. The supporting industries, therefore, cannot grow up.

Weak supporting industries cannot retain foreign investors

 VietNamNet Bridge – At least two leading automobile manufacturers in the world have decided to cancel their development projects in Vietnam because of the weak supporting industries in the country.

Vietnam found six key industries to gather strength on

Six industries including consumer electrics/electronics, food processing, ship building, agriculture machinery, environment and energy saving, automobile/car part manufacturing have been defined as the six key industries.

Supporting industries need big support to develop

VietNamNet Bridge – Vietnam has vowed to develop supporting industries, but it still does not know what it should do to obtain that goal.

Auto manufacturers increasing localization ratios to be more competitive

Making more car parts domestically to replace imports is the solution for automobile manufacturers to increase their competitiveness in the context of the low market demand.