Hanoi (VNA) – Deputy Minister of Industry and Trade Tran Tuan Anh raised a number of measures t🐟o boost industrial producti💟on at a meeting in Hanoi on March 28.
He urged businesses to create national brand products that are highly competitive in global value chains, especially as Vietnam integrates into the world economy.
Relevant ministries and businesses should increase coordination to boost competitiveness, reform technology and accelerate the restructuring process, he said, adding preferential policies are needed to draw foreign investment, improve domestic production and boost exports in 2016.
The official suggested that State-run companies and economic groups continue working towards the promulgation of an action plan for the restructuring of the industry and trade sector to serve industrialisation, modernisation and sustainable development in 2020 with a vision toward 2030.
He urged Electricity of Vietnam (EVN) to devise a more flexible plan to provide sufficient power for production in the upcoming dry season.
The Vietnam National Oil and Gas Group (PetroVietnam) must build solutions to deal with falling oil prices in 2016 and the following years, he added.
According to the ministry’s Department of Planning, the industrial production index in the first quarter of this year climbed by 6.3 percent year-on-year, lower than the previous last year (9.1 percent). This is due to the reduced crude oil output and slow growth in electronics, computers and optical products.
Furthermore, electricity use for industry and construction is lower than last year, posing difficulties for industrial production, said Vu Ba Phu, head of the department.
Noting some positive signs in industrial production, he said global oil prices are forecast to fall, which is expected to create an opportunity for businesses to restructure, reduce production costs and improve product quality.
Falling prices in logistics and transport services are also favourable factors in business operation, he added.
He advised businesses to prepare human and financial resources, invest in equipment and technology, and develop support industries to reinforce their foothold in traditional export markets and expand to others.-VNA
Seventy percent of enterprises with high energy needs and emissions and 50 percent of industrial production establishments will apply clean and energy-saving technologies by 2020.
Vietnam must act quickly to improving production technologies in all industries to ensure the competitiveness of its goods and services in the international market.
The national index of industrial production (IIP) in the first two months of this year posted a year-on-year increase of 6.6 percent, according to the General Statistics Office (GSO).
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Vietnam Cycle Expo 2025 will coincide with the Vietnam Sport Show 2025, an international exhibition on sports and outdoor entertainment, expected to attract more than 20,000 visitors in the three-day event.
At the meeting (Photo: VNA)
