Workshop discusses ways for industrial development in Vietnam

Speaking at the event, CIEM Director Tran Thi Hong Minh said that the Vietnamese economy has been recovering strongly from severe impacts of the COVID-19 pandemic.

However, it is facing the risk of fragmented and unfocused reforms which leads to difficulties in creating more breakthroughs if no newer and more drastic ways and solutions are taken.

The outcomes of this workshop will help Vietnamese agencies and experts in consulting policies on industrial development in the country, Minh stated.

Vo Tri Thanh, member of the National Financial and Monetary Policy Advisory Council, proposed Vietnam prioritise developing several industries such as information technology and telecommunications, and advanced electronics, to meet the requirements of the Fourth Industrial Revolution to create a digital technology platform for other industries; clean and renewable energy; and processing and manufacturing.

Attention should also be paid to defence and security industry, combined with civilian industry in the dual-use direction, garment and footwear industries, and several mechanical industries such as automobiles, agricultural machines, and electric and medical equipment.

For the electronics sector, Nguyen Thi Xuan Thuy from the German Agency for International Cooperation or (GIZ) suggested the Government build reliable partnerships in this industry at both macro and micro levels and attract more foreign investment (FDI) to create a domestic supply chain.