Hanoi targets to develop up to 35 key industrial products in 2022

The city is also working to ensure 100 percent of the firms manufacturing KIPs will benefit from its support policies, and such firms will push their production value up by 10-12 percent against 2021 and contribute 35-40 percent of the city’s total industrial production and 15 percent of total exports.

To this end, the city is taking six measures, namely improving the business environment for KIP firms, supporting KIP firms in technological development, developing human resource, selecting and honouring KIP, promoting trade and investment, and formulating supportive policies.

Previously, Hanoi honoured 26 products as KIP in 2020 and 46 products this year. So far, the city has recognised 163 products from 107 firms after four years, from 2018 to 2021. For the 2021-2025 period, the municipal authority aims to have 150-180 products recognised as KIP.

The city hopes that KIP recognition would add value to brand names, allowing them to fare better amid the pandemic, and create favourable conditions for development.

Meanwhile, Hanoi’s index of industrial production in November went up 4.8 percent month-on-month and 7.1 percent compared to the same period last year.