EU-funded project improves Vietnam’s support industry

The project “Vietnam’s Supporting Industries to Europe” has improved manufacturing capacity of the sector after three years of implementation. 

During a seminar held in Hanoi on May 29 to review the project, Director of the Supporting Industry Enterprises Development Centre (SIDEC) Truong Thi Chi Binh said among more than 200 participating enterprises, 98 percent of them have increased sales while 38 percent have recorded higher export earnings. 

The project has connected spare parts manufacturers with buyers worldwide, particularly those in the European market, and assisted in building relevant policies. 

Thanks to the project’s support, the Vietnam Association for Support Industries (VASI) was born in March 2017 which links together businesses, organisations and individuals working in the field. Up to 30 training courses in manufacturing-trade have benefited 1,500 people while 67 stalls were organised for businesses in eight international fairs in Europe.

Do Thi Thuy Huong from the Vietnam Electronics Industries Association said the project has made it easier for Vietnamese firms to supply products to Samsung. 

Participants suggested ministries and agencies concerned offer support in training, connectivity and joining international fairs. 

According to Binh, Vietnam is strong in products requiring both machinery and hand assembling, such as electronic circuit which is sold well at international fairs. 

The government was urged to offer incentives to businesses regarding loans, technology and training in order to facilitate Vietnam-European Union (EU) trade. 

The VASI also needs to improve its consultancy capacity and training for manufacturing firms. 

The “Vietnam’s Supporting Industries to Europe” project was funded by the EU with a total cost of more than 412,000 EUR. 

Carried out from June 2014 – June 2017, it aims to improve the capacity of Vietnam’s small and medium enterprises in support industry, particularly in engineering, electricity-electronics, plastics and rubber.

Add new comment

Related

Vietnam steps up equitization to get ready for free trade with EU
Vietnam steps up equitization to get ready for free trade with EU

VOV.VN - The process known as equitization in Vietnam is turning government owned enterprises into joint-stock companies with ownership shares possessed by workers or other private sector interests.

Vietnam steps up equitization to get ready for free trade with EU

Vietnam steps up equitization to get ready for free trade with EU

VOV.VN - The process known as equitization in Vietnam is turning government owned enterprises into joint-stock companies with ownership shares possessed by workers or other private sector interests.

Agreement to boost Vietnam – EU legal timber trade
Agreement to boost Vietnam – EU legal timber trade

Vietnam and the EU have just concluded negotiations for a voluntary partnership agreement (VPA) on Forest Law Enforcement, Governance and Trade (FLEGT), according to the EU delegation to Vietnam on May 16.

Agreement to boost Vietnam – EU legal timber trade

Agreement to boost Vietnam – EU legal timber trade

Vietnam and the EU have just concluded negotiations for a voluntary partnership agreement (VPA) on Forest Law Enforcement, Governance and Trade (FLEGT), according to the EU delegation to Vietnam on May 16.

Path to EU widened for Vietnamese garments-textiles
Path to EU widened for Vietnamese garments-textiles

Vietnam’s garment-textile sector is expected to expand its markets once the Vietnam-EU Free Trade Agreement (EVFTA) comes into force in early 2018, reducing tax on Vietnamese garments and textiles exported the EU to zero percent over the next seven years.  

Path to EU widened for Vietnamese garments-textiles

Path to EU widened for Vietnamese garments-textiles

Vietnam’s garment-textile sector is expected to expand its markets once the Vietnam-EU Free Trade Agreement (EVFTA) comes into force in early 2018, reducing tax on Vietnamese garments and textiles exported the EU to zero percent over the next seven years.