Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc emphasized the need tofacilitate the development of the mechanical engineering industry whileaddressing a conference in Hanoi on September 24.

Apart from the market, mechanic businesses need incentives to participate innational projects, access information and cutting-edge technologies, and stepup technological application in order to improve their productivity and competitiveness,he said.

The sector would develop further if there are suitable macro policies,especially those on tax and interest rate, the leader said, adding it is a mustto develop auto mechanics which has high added values, along with theprocessing industry and mechanic technologies in service of agriculture.

The leader suggested improving the quality of trade promotion activities toattract the world’s big investors in the domestic mechanic sector, andintensifying the fight against trade fraud and trafficking in this sphere.

He assigned the Ministry of Industry and Trade (MoIT) to devise theGovernment’s resolution on solutions to develop Vietnam’s mechanicalengineering industry by 2030 with a vision towards 2035, which is expected tobe issued at the end of this year.

The PM asked the State Bank of Vietnam to coordinate with the MoIT to studycredit policies and mechanisms in support of mechanic firms.

Meanwhile, the Ministry of Agriculture and Rural Development and the Ministryof Natural Resources and Environment were asked to perfect regulations on landin service of large-scale agricultural production, thus facilitatingagricultural mechanization.

Localities must play a more active role in attracting both domestic and foreignmechanic enterprises, and put forth preferential policies, he stressed,affirming that the Government always accompanies mechanic businesses, helpingthem optimize opportunities to further develop.

Vietnam is now home to about 21,000 mechanic firms of different scales, whichdemonstrates the determination of ministries, agencies and businesses topromote the domestic mechanic sector, as well as the increasing demand formechanic technologies.

Speaking at the conference, Deputy PM Trinh Dinh Dung emphasized that mechanicalengineering is a key industrial sector and a growth engine of the nationaldevelopment, given Vietnam’s process of industrialization and modernization.

The processing and manufacturing sector has reportedly made up nearly 40percent of the net revenue of enterprises over the past years, with mechanicengineering accounting for more than 36 percent./.