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Vietnam Today

PM chairs conference on developing mechanical enegineering

Released at: 13:35, 25/09/2019

PM chairs conference on developing mechanical enegineering

Photo: VGP

Hanoi conference sought solutions to promoting the development of mechanical engineering industry in Vietnam.

by Phi Linh

Prime Minister Nguyen Xuan Phuc addressed a conference on September 24 in Hanoi on solutions for promoting the development of Vietnam’s mechanical engineering industry.

“First of all, we must have aspirations and enthusiasm for the development of Vietnam’s economy and Vietnam’s mechanical engineering industry to increase in the global value chain,” he told the gathering. “We need to define the market more clearly, the domestic and foreign market segment, from which there are accompanying macro policies, especially tax and interest rate policies for the mechanical engineering industry."

The event was attended by Deputy Prime Minister Trinh Dinh Dung, Minister of Industry and Trade Tran Tuan Anh, leaders of ministries and central branches, representatives of enterprises and domestic and foreign mechanical enterprise associations and organizations, international experts, and scientists in the field of mechanical engineering.

The Prime Minister affirmed that the conference will have a government resolution on solutions to develop Vietnam’s mechanical engineering industry. This is also the wish of businesses in the industry, which is the backbone of the economy. The Prime Minister asked the Ministry of Industry and Trade to absorb ideas to adopt an appropriate resolution.

Given that there are certain shortcomings, Prime Minister Phuc said it is necessary to renovate thinking on mechanical production and combat subsidies, while creating conditions in policies, including input and output policies for Vietnamese mechanical products.

The Prime Minister emphasized that institutional mechanisms and policies will be completed synchronously and be strong, especially the localization policy; create markets for the development of mechanical engineering enterprises, in which the State promotes; research policies to support domestic enterprises to participate more in domestic projects; and study the promulgation of bidding regulations in order to raise the rate of use of domestically-produced goods to create a market for domestic enterprises to develop in accordance with current regulations and international practice.

The government will improve the quality of trade promotion activities and attract investment from well-known mechanical enterprises in the world to gradually form a domestic supply chain and seek to expand export markets for domestic mechanical enterprises.

Business connection programs also need to be implemented, to strengthen links and joint ventures between domestic enterprises and with large enterprises in the world in the value chain, to access technology and standardize products.

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