Illustrative photo (Source: VNA)Hanoi (VNA) – Vietnam has worked to raise the number oflocal part suppliers in the global supply chains, aiming to have about 1,000enterprises capable of supplying directly to assembly enterprises andmultinational corporations by 2025.
Statistics from the Ministry of Industry and Trade show thatVietnam now has close to 2,000 part suppliers. However, only 300 firms are inthe supply chains of multinational groups.
To develop the industry, the Government has to date issuedseveral documents to create a favourable legal framework, including Decree 111in 2015 on the development of support industry, and the Prime Minister’sDecision 68 dated January 18 in 2017 that approved a development programme forthe sector during 2016 – 2025.
Most recently, in 2020, Prime Minister Nguyen Xuan Phucsigned Resolution 115 on measures to further propel the industry, setting outdevelopment goals for the next decade.
According to the resolution, Vietnamese enterprises will beable to produce highly competitive supporting industrial products, meeting 45percent of the essential needs for domestic production and consumption,accounting for about 11 percent of the industrial production value by2025.
About 1,000 enterprises are expected to be capable ofsupplying directly to assembly enterprises and multinational corporations, ofwhich domestic enterprises account for about 30 percent by 2025.
By 2030, supporting industrial products will meet 70 percentof the demand; accounting for about 14 percent of the industrial productionvalue. About 2,000 firms will be capable of supplying directly to assemblersand multinational corporations in the territory of the country by 2030./.
VNA
