Decision No. 319/QD-TTg dated March 15, 2018 of the Prime Minister on approving the Strategy for development of Vietnam’s mechanical engineering sector through 2025, with a vision toward 2035

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Decision No. 319/QD-TTg dated March 15, 2018 of the Prime Minister on approving the Strategy for development of Vietnam’s mechanical engineering sector through 2025, with a vision toward 2035
Issuing body: Prime MinisterEffective date:
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Official number:319/QD-TTgSigner:Trinh Dinh Dung
Type:DecisionExpiry date:Updating
Issuing date:15/03/2018Effect status:
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Fields:Industry

SUMMARY

To supplement tax incentives for the mechanical engineering sector

According to the Strategy for development of Vietnam’s mechanical engineering sector through 2025, with a vision toward 2035, mechanical engineering is a fundamental industry, center on mechanical engineering serving agriculture, manufacture of automobiles, industrial work equipment, electric equipment and industries supporting…

In the coming time, continue revising policies promoting the mechanical engineering sector, including tax incentives (enterprise income tax and import duty) and investment and business support measures as provided by the Investment Law in the direction of simplifying administrative procedures.

The State shall adopt policies to support enterprises in purchasing designs and technologies, renovating technologies and production equipment, applying advanced production management technologies and models that use more efficiently energy and input natural resources as well as raise the quality and competitiveness of mechanical engineering products…

Also in accordance with the Strategy, the list of key mechanical engineering products prioritized for development investment in the 2017-2025 period including: Types of motor equipment; Categories of automobiles; Uplifting and hoisting equipment…

Within that, Categories of automobiles contain: Special-use automobiles; Medium- and short-range passenger cars with 10 or more seats for inter-provincial transport or urban routes; Fuel-efficient and environment-friendly cars.

This Strategy is issued at the Decision No. 319/QD-TTg dated March 15, 2018 of the Prime Minister, takes effect on the signing date.

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Effect status: Known

THE PRIME MINISTER

THE SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom - Happiness

No. 319/QD-TTg

Hanoi, March 15, 2018

DECISION

Approving the Strategy for development of Vietnam’s mechanical engineering sector through 2025, with a vision toward 2035[1]

Pursuant to the June 19, 2015 Law on Organization of the Government;

Pursuant to the November 26, 2014 Investment Law;

Pursuant the Government’s Decree No. 118/2015/ND-CP of November 12, 2015, detailing and guiding the implementation of a number of articles of the Investment Law;

At the proposal of the Minister of Industry and Trade,

DECIDES:

Article 1. To approve the Strategy for development of Vietnam’s mechanical engineering sector through 2025, with a vision toward 2035, with the following principal contents:

I. VIEWPOINTS AND OBJECTIVES

1. Viewpoints

a/ Mechanical engineering is a fundamental industry of strategic significance to the rapid and sustainable national development, which helps raise the national economy’s independence and autonomy, ensure the national economy’s deep and effective integration into the global production and distribution network, and therefore deserves proper attention and adequate investment;

b/ Development of Vietnam’s mechanical engineering sector must center on mechanical engineering serving agriculture, manufacture of automobiles, industrial work equipment, electric equipment and industries supporting mechanical engineering on the basis of efficiently mobilizing resources from all economic sectors, mainly non-state sectors;

c/ Development of Vietnam’s mechanical engineering sector must be based on use of high-quality human resources and advanced technologies and driven by the global competitiveness;

d/ To seize the existing advantages and international opportunities during the integration process; to closely combine mechanical engineering production with services and trade, and develop industries supporting mechanical engineering to proactively and deeply participate in the global value chain and industrial production;

dd/ To attach importance to developing a number of dual-use mechanical engineering sub-sectors and fields to serve national defense and security;

e/ To develop Vietnam’s mechanical engineering sector on the basis of green growth, sustainable development and environmental protection.

2. Objectives

a/ Overall objectives

- By 2035, Vietnam’s mechanical engineering will become a sector  with a majority of sub-sectors using advanced technologies and turning out products up to international standards, participate more deeply in the global value chain, economically and efficiently use energy, be able to equally compete on the global market; the sector will have a professional, disciplined and highly productive workforce who are proactive in researching, designing and manufacturing mechanical engineering products which can basically meet the domestic market’s demand.

- Regarding export: By 2020, 2030 and 2035, the export output will account for 35%, 40% and 45% of the total output of the sector, respectively.

b/ Specific objectives

By 2025, to concentrate on developing such sub-sectors as automobiles, tractors, agricultural machinery, work equipment, industrial equipment and electric equipment, which can basically meet the demands of the economy and be partially exported; the sector’s workforce will be basically qualified to meet modern production requirements:

After 2025:

- To form a number of groups of consultancy and manufacturing contractors capable of designing and manufacturing auxiliary equipment and undertaking EPC bidding packages of industrial works;

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ENGLISH DOCUMENTS

Official Gazette
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