Decision No. 1043/QD-TTg dated July 1, 2013 of the Prime Minister approving Vietnam’s industrialization strategy within the framework of Vietnam-Japan cooperation through 2020 with a vision toward 2030

TO STRONGLY DEVELOP SIX PRIORITY INDUSTRIES WITHIN THE FRAMEWORK OF VIETNAM-JAPAN COOPERATION

On July, 01, 2013, the Prime Minister signed the Decision No. 1043/QD-TTg approving Vietnam’s industrialization strategy within the framework of Vietnam-Japan cooperation through 2020 with a vision toward 2030.

This strategy has listed out to strongly develop six priority industries, including electronics, agricultural machinery, agricultural fishery product processing, shipbuilding, environment and energy saving; automobiles and auto parts manufacturing, into spearhead industries of the economy with high added value and international competitiveness. Industries prioritized for development in the industrialization strategy have a leading role in promoting the attraction of investment from domestic and foreign enterprises, first of all Japanese ones, and creating a spillover of technology and skills for the industry in particular and Vietnam’s economy in general.

Accordingly, by 2020, the sectors will be prioritized for the development, including sectors prioritized for development will take the lead in the application of high and clean technologies while ensuring the rationality in Vietnam’s economic conditions; production value of the priority sectors will increase at least 20% annually and contribute at least 35% to the total industrial production value; these sectors will rank among ten sectors with the highest labor productivity growth; by 2030, the sectors prioritized for development will largely apply high and clean technologies while ensuring the rationality in Vietnam’s economic conditions.

In order to archive above visions, it is necessary to increase the production capacity of the six selected industries so as to adapt to the implementation of commitments to international economic integration through 2020; to build and expand the market for the six priority sectors’ products; to focus on developing supporting industries for the six priority sectors in combination with technology transfer and training high-quality human resources as foundations for these industries and to accelerate the commissioning of major projects that have been approved in upstream sectors (petrochemical, steel production, electricity, gas, energy, …) so as to increase the efficiency of investment in the long-term development of the industries prioritized for development.