Google

ASEANAFFAIRS
Sign up | Log in

    ASEAN PROFILES

  ASEAN KEY DESTINATIONS

Home  >>   Daily News  >>Vietnam>>Economy>>HN targets parts supply growth
NEWS UPDATES Asean Affairs    August  10,  2017  








HN targets parts supply growth

Ha Noi needs more favourable policies to boost the parts supply industry, experts said Monday at a conference on developing the industry in the capital. The city plans to increase the number of parts supply firms from the current 200-250 to 900-1,000 firms by 2020.

According to the Heavy Industry Department under the Ministry of Industry and Trade, the development of the parts supply industry in Vi?t Nam has a potentially important role in economic development but is performing below expectations with modest local procurement rates. For example, local procurement by the footwear industry is just 20-25 per cent and by the auto industry 7-10 per cent for cars with fewer than nine seats.

A number of industries are still largely dependent on imported raw materials, the department said, adding that State support for the parts supply industry is limited while foreign manufacturers tend to use suppliers from their home countries.

Nguyen Hoang, Chairman of the Ha Noi Support Industries Business Association, said the capital city needed policies to support existing parts supply firms and encourage new ones.

Experts at the conference attributed the slow development of the industry to hesitation resulting from over- complicated procedures and less favourable policies than those enjoyed by foreign-invested firms.

According to Phan Nh?t Minh, general director of the Nh?t Minh Company, local companies should be provided with incentives similar to those granted Samsung or at least equal to half of Samsung’s, adding that there was a significant difference in incentives between local and foreign companies.

Lai Minh Duc, a representative from the municipal Department of Industry and Trade, said the city had a developed mechanical industry but lacks co-ordination among firms. “It is important to promote co-ordination among parts supply firms to improve competitiveness in the rapid international economic integration,” Duc said.

According to Hoang, Ha Noi needs to develop human resources for the parts supply manufacturers and establish special zones for support industries.



Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
Online Ad Rates
Contact: marketing@aseanaffairs.com

Comment on this Article. Send them to  your.views@aseanaffairs.com

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
 
or
submit your comment in the box below



 
Today's  Stories                          August 10, 2017 Subsribe Now !
• Petron says H1 net income up 56% Subcribe: Asean Affairs Global Magazine
• Many Cambodian migrants still unregistered for work in Thailand
HN targets parts supply growth
Research Reports
on Thailand 2007-2008

• Textiles and Garments Industry
• Coffee industry
• Leather and footwear industry
• Shrimp industry

• Banking sector firms up its foundations
• Indonesian, Malaysian firms still discuss power plant construction
Asean Analysis                  July 31,  2017
• Asean Analysis July 31, 2017
A Dramatic Year Fails to Smooth the South China Sea
Advertise Your Brand

Asean Stock Watch   August 7 2017

• Asean Stock Watch-August 7, 2017
The Biweekly Update
• The Biweekly Update  July 31, 2017

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent
• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan

ASEAN  ANALYSIS

This year in Thailand-what next?


AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

 


Name

Name


Email

Email



1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2019 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand
asean@aseanaffairs.com