Measures discussed to formulate coordinated and effective national industrial policies

Saturday, 2017-03-11 02:08:28
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Politburo member and head of the Party Central Committee's Economic Commission Nguyen Van Binh speaks at the seminar. (Credit: CPV)
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NDO – Measures for Vietnam's national industrial development policy by 2025 with a vision to 2035 were discussed at an international conference held in Hanoi on March 10 by the Party Central Committee's Economic Commission in collaboration with the Ministry of Industry and Trade.

Reports at the event showed that industrial development has contributed positively to job creation and the improvement of people's lives. At present, the foreign-invested sector and the domestic private sector have increasingly contributed to the national industrial development.

However, Vietnam’s industry is still at a low level, mainly developing on a wide scale, with weak internal resources and reliant on many FDI enterprises. Meanwhile, industrial production growth is weak and unsustainable, plus industrial labour productivity, especially in processing and manufacturing industry, is still low.

Chairing the symposium, Politburo member and head of the Party Central Committee's Economic Commission Nguyen Van Binh affirmed that the Party and State always pay attention to issuing suitable guidelines and policies promoting industrial development.

Since Vietnam's accession to the WTO, the Party's guidelines on socio-economic development and national industrialisation and modernisation in general, as well as industrial development in particular, have been continuously enhanced to meet the nation’s development requirements in the new context.

To continue implementing and realising the Party and State’s guidelines, objectives and tasks, Politburo member Binh also stressed the need to build the foundation to transform the country into an industrialised one in the direction of modernisation, in addition to developing a comprehensive industrial policy framework to promote and improve the quality of national industrialisation and modernisation during 2016-2025.

Delegates at the event suggested that in the context of deepening international integration, Vietnam should continue to update its mechanisms and policies to create a favourable environment for attracting investment. Furthermore, the country must clearly define the role of economic components in industrial development to appropriately orient development policies, promote the application of new technologies, facilitate labour restructuring, improve the quality of industrial human resources and diverse financial resources for industrial development.

They also discussed experiences in developing industrial policies of successful countries and territories such as Japan, the Republic of Korea, Chinese Taipei and Thailand, as well as identifying opportunities and challenges for industrial development in the future.

Participants proposed several orientations for industrial development policy by 2025, focusing on adjusting the investment structure, selecting key sectors to set investment priority, facilitating supporting industry development and protecting domestic production through technical barriers.