National industry promotion program helps industrial growth
National industry promotion program helps industrial growth
Since it was approved through Prime Ministerial Decision 1288/QD-TTg dated August 1, 2014, the national program for industry promotion to 2020 and related activities has contributed greatly to the strong development of rural industry in particular and Vietnam’s industrial sector in general.
The legal framework governing industry promotion activities at local to central level has been improved, while industry promotion personnel has been developed and become increasingly efficient. Provincial industry promotion centers cooperated with each other and with industry promotion service organizations, forming an increasingly efficient operational network.
Numerous rural industrial establishments have benefited from the national program for industry promotion
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State funding for industry promotion activities increased 9.59 percent per year on average, while industry promotion projects attracted VND9.5 trillion of reciprocal capital from project beneficiaries. Industry promotion activities, mostly construction of technical demonstration models, technology transfer, application of advanced machinery, and vocational training, contributed to increasing the rural industrial production value and creating jobs for rural workers, especially in struggling areas.
The Central Economic Commission’s data released at a conference reviewing the 2014-2018 national program for industry promotion showed that the rural industrial production value grew 12.7 percent per year, higher than the industrial sector’s average. This achievement was attributed to the industry and trade sector’s contribution, including industry promotion programs.
The Ministry of Industry and Trade has drafted and submitted to the government for approval a national program for industry promotion in the 2021-2025 period, giving priority to rural industrial development. Vietnam’s deeper integration into international economic communities, including its participation in new-generation free trade agreements, the Fourth Industrial Revolution or Industry 4.0 and Covid-19 are all presenting new challenges for enterprises including rural industrial producers.
To help enterprises survive the challenges, the Ministry of Industry and Trade will mobilize and efficiently use all resources, create new impetus to promote the development of industrial and handicraft production, encourage technology transfer and application and cleaner production in order to improve the efficiency of natural resources, raw materials and fuel, and protect the environment. The ministry will integrate industry promotion programs with other targeted projects and programs to attract investment in rural industrial development from different sources.
| Over the past six years, with an average funding of VND250 billion per year, national and local industry promotion programs have supported and attracted investment capital in industrial and handicraft production, helping improve production capacity and efficiency. |
