Supporting industries are playing an important role in the long-term
sustainable economic growth and foreign investment attraction, said the
Vietnam Economic News on September 29.
According to Dang Van
Chi, Deputy General Director of NG Investment and Development JSC,
an investor in the Hanoi Southern Supporting Industrial Park (Hanssip),
despite successfully attracting large corporations such as Samsung,
Nokia, Toshiba, Honda, Panasonic, and Canon, Vietnam has to spend
billions of dollars on importing components or raw materials for these
corporations.
Many firms admit that their production depends too much on import of inputs, he said.
Supporting industries also help improving competitiveness of
industrial products, promoting new technologies, and developing domestic
small and medium enterprises develop, added Chi.
Hanoi has about
2,000 companies operating in supporting industries, with total sales
accounting for approximately 25 percent of the city’s whole industrial
sales.
According to Director of Hanoi’s Department of Industry
and Trade Le Hong Thang, along with specific solutions for capital and
infrastructure, the government and local authorities need to issue
policies to further promote the development of supporting industries.
For example, Hanoi has issued a number of specific policies to back
local supporting industries including soft loan policy for enterprises
operating in the city’s industrial parks such as Hanssip.
According
to Deputy Minister of Planning and Investment Dang Huy Dong, global
economic integration requires close links between national and
international companies.
“The most important issue is how to
find outlets for support industrial products to promote sales. Once you
have a market, you will need financial sources for sustainable business
development,” Chairman of Hanoi Supporting Industries Business
Association Nguyen Hoang was cited as saying.-VNA