HÀ NỘI — Việt Nam's supporting industry needs to advance self-reliance and reduce dependence on imports to improve the value and competitiveness of products in the global value chain. Experts say that Việt Nam's industrialisation and modernisation strategy for the 2021-2030 period, with a vision to 2045, needs to adapt to rapidly changing domestic and international contexts. "Therefore, developing supporting industries and gradually becoming self-reliant on domestic sources of raw materials and components is one of the core issues for sustainable development of Việt Nam's industry in the long term," said a representative of the Industry Department to Công Thương (Industry and Trade) online newspaper. Highlighting the solution, the Industry Department said that first of all, it was necessary to improve the capacity of supporting industry enterprises; opening up market opportunities for supporting industry enterprises to become suppliers and participate in the supply chain of enterprises manufacturing and assembling final products. The State also needed to actively expand foreign markets for supporting industry enterprises, along with receiving technical processes and production skills from abroad to improve production capacity, said the department.

Source: Viet Nam News January 08, 2024 13:59 UTC