Vietnam facilitates development of two industrial supporting centres

The two centres, which received in-principle approval from the ministry, will help industrial producers and enterprises support industries, boost innovation and technology transfer, improve productivity and quality, increase added value in their products and take part in global supply chains.

They will also target improving science and technology capacity for enterprises in supporting industries and those in processing and manufacturing, strengthen domestic and international cooperation in research and development and facilitate the application of science and technology, besides enhancing the public-private partnership mechanism in technological innovation, research and development projects, according to a Vietnamese media report.

The development and operation of such centres will help create key economic zones to support businesses in promoting innovation, improving production techniques and trade connections, and creating added value for the industry.

Initially, these centres had implemented several activities to facilitate enterprises in supporting industries in some localities, including bettering links among firms in the automobile industry, electronics, mechanical engineering, textiles and footwear and cooperating with multinational corporations operating in Vietnam to find suitable local suppliers to participate in the value chain of these corporations.

During April, the manufacturing and processing sector, which created 80 per cent of industrial growth, expanded by 11.3 per cent year on year, much higher than 5.8 per cent and 9.6 per cent seen in 2018 and 2019.

According to general statistics office, the IIP also saw a positive increase of 7.5 per cent on year in the first four months of this year. The processing and manufacturing industry had a yearly IIP rise of 8.3 per cent.

Fibre2Fashion News Desk (DS)