HCM City facilitates development of supporting industry firms

Ho Chi Minh City has set a target of meeting 65 percent of its demand for supporting industry products by 2025. 

To realise the goal, the city will focus on honouring typical supporting industry products and assisting the business that invests in supporting industries.

The nomination and honouring of industrial products and supporting industrial products has been conducted by HCM City every two years since 2016. The number of products and businesses taking part in the event has been increasing. Last year, 65 businesses registered to participate with 110 applications compared to 46 in 2016 and 65 in 2018.

Deputy Director of the Department of Industry and Trade Nguyen Phuong Dong said that the nomination aims to honour typical industrial products and supporting industries, creating motivation for businesses to continue innovation in their production, contributing to the industrial development of the city. 

This was also a promotion activity, calling for investment in the industrial sector to attract large investors, especially in the field of supporting industries, he said.

To facilitate the development of supporting industries, the city authorities have issued the Supporting Industry Development Programme for the 2019 – 2025 period. The overall goal of the programme is to focus on carrying out synchronised solutions to improve the capacity and competitiveness of small and medium-sized enterprises operating in the field of supporting industries.

Dong said the city will develop a database of supporting industries, connecting supporting industry enterprises with those producing finished products in the future. Ten enterprises will be assisted to improve technology, supply capacity, and ability to meet international and standards each year.

In addition, the city also promulgated many policies and solutions to support and create favourable conditions for enterprises engage in supporting industries to develop, improve their competitiveness, and join the global supply chain, he said./.