Ministry to help local firms to join FDI multinationals’ supply chains
The Ministry of Industry and Trade (MoIT) has said this year it will closely coordinate with several foreign multinationals like Samsung and Toyota to connect with local suppliers of materials and accessories, in an effort to seek alternative supply for imports in both short and long terms.
Production of electronic parts at Manutronic Vietnam. (Photo: VNA)
Hanoi (VNA) – The Ministry of Industry and Trade(MoIT) has said this year it will closely coordinate with several foreignmultinationals like Samsung and Toyota to connect with local suppliers ofmaterials and accessories, in an effort to seek alternative supply for imports in both short and long terms.
The ministry sets to raise the Industrial Production Index(IIP) by around 7 – 8 percent, contributing to boost the GDP growth to 6 – 6.5percent in 2022, according to Deputy Minister Tran QuocKhanh.
It plans to effectively implement projects providinghelp to supporting firms in the priority sectors of automobiles, electronics,textile and garment, and footwear; and support domestic producers to join supplychain of FDI enterprises and projects, he said.
Last year, the industrial production maintained growth, though modest, despite impacts of COVID-19, the MoIT reported. The sector expanded 4.82percent from the previous year on the back of key areas such as electronics,textile and garment, footwear and wood manufacturing.
Among the 63 cities and provinces nationwide, Ninh Thuan saw thehighest growth in IIP, 24.6 percent. It was followed by Dak Lak (23.8 percent),Gia Lai (20.5 percent), Hai Phong (18.2 percent), and Binh Phuoc (17.8percent).
Ho Chi Minh City was among the worst-hit by COVID-19, withthe IIP plunging 14.3 percent year-on-year due to COVID-19 outbreaks atfactories and export processing zones causing production disruption./.
The Government have issued a host of preferential policies for businesses operating in supporting industries over the past time. However, their beneficiaries have said it is difficult for them to access incentives and support from these policies.
The People's Committee of Bac Ninh province has approved a programme on the development of supporting industries for the 2021 – 2025 period with total funding of nearly 154 billion VND.
Vietnamese firms operating in supporting industries have been developing in recent years, as products have partly met demand in the domestic market and for export.
The Ministry of Industry and Trade (MoIT) held a teleconference with Samsung Vietnam and its suppliers on October 14, affirming that the ministry’s top priority now is assisting businesses in Vietnam to achieve the “twin targets” of ensuring safety amid the COVID-19 pandemic and maintaining production to avoid disruptions to supply chains.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
Production of electronic parts at Manutronic Vietnam. (Photo: VNA)
