Vietnam still struggling to develop supporting industriesVietNamNet Bridge - Vietnam has been trying to develop support industries for 30 years, but is still finding it difficult to squeeze into the global supply chain. Vietnam vows to develop supporting industriesThe government has decided that products of supporting industries will have to satisfy 45 percent of essential needs for domestic production and consumption by 2020, and by 70 percent by 2030. However, analysts are pessimistic about the development of Vietnam’s supporting industries and the feasibility of the plan. Amid foreign direct investment (FDI) in the last 30 years, Vietnam has missed opportunities to develop supporting industries. According to the Institute for Industry & Trade Policy Research (ITPR), Vietnam had 1,383 enterprises in supporting industries, mostly operating in three fields – mechanical engineering, electronics and plastics – rubber.

Source: VietNamNet News April 18, 2018 05:26 UTC