This is a utility for members to sign up for the software.
Please Sign in your LuatVietnam account and sign up for the lookup software .| Issuing bodies: | Government | Effective date: | |
| Official number: | 115/NQ-CP | Signer: | Nguyen Xuan Phuc |
| Legislation Type: | Resolution | Expired date: | Updating |
| Issuing date: | 06/08/2020 | Effect: | |
| Fields: | Industry |
By 2030, supporting industry products will satisfy 70% of domestic production and consumption demands
On August 06, 2020, the Government issues the Resolution No. 115/NQ-CP on solutions to promote the development of supporting industries.
Accordingly, general objectives include: By 2025, Vietnamese enterprises will be able to manufacture highly competitive supporting industry products that can satisfy 45% of essential domestic production and consumption demands and will account for some 11% of the production value of the entire industrial sector; By 2030, supporting industry products will satisfy 70% of domestic production and consumption demands, there will be around 2,000 enterprises capable of supplying their products directly to assembling enterprises and multinational groups operating in Vietnam.
In addition, ministries, branches and localities need to perform the following tasks: The Ministry of Industry and Trade shall develop a strategy on development of the textile-garment and footwear industries through 2030, with orientations toward 2035; build 5 regional technical centers to support industrial development; The Ministry of Finance shall guide the provision of interest rate differences for commercial banks providing concessional loans for enterprises engaged in prioritized supporting industries and processing and manufacturing industries, etc.
Besides, the Vietnam Association for Supporting Industries and related trade associations shall encourage joint venture enterprises and wholly foreign-owned enterprises to join various associations for enhancing coordination, forming linking chains and exchanging experience between domestic and FDI enterprises in the mechanical engineering, electronics, textile-garment, and supporting industries.
For further details of the Resolution 115/NQ-CP, Click here
