Business
Nearly 1.1 million USD for building industrial strategies
The Ministry of Industry and Trade and the United Nations Industrial Development Organisation (UNIDO) held a ceremony in Hanoi on June 17 to launch a project on supporting the Vietnamese Government in building industrial strategies and related policies through institution capacity development.
The three-year project has a total investment of nearly 1.1 million USD, of which 980,000 USD is coming from the Republic of Korea ’s Official Development Fund (ODA) through the UNIDO, and a corresponding fund of 100,000 USD will be covered by Vietnam.
Addressing the launch ceremony, Head of International Cooperation Department under the Ministry of Industry and Trade Le Huu Phuc said the ministry vows to try its best efforts to support the work, adding that Vietnam would develop strongly its industry sector thanks to the project.
The project aims to improve the quality of industrial development strategies and policies to increase the local industry’s competitiveness, thus contributing to reducing poverty and improving gender quality by generating new production activities and jobs.
Particularly, the project will enable international exchange of knowledge and technology, foster manufacturing capabilities development and promote global value chains across key manufacturing segments of the economy, according to Phuc.
Ludovico Alcorta, Director of the UNIDO’s Development Policy, Statistics and Research in Austria, hoped that Vietnam and the UNIDO will work closely to realise the project’s goals.
Republic of Korea (RoK) Consul General to Vietnam Park Sang-shik said the RoK will share its experience in technological development with Vietnam as well as support Vietnam to carry out the project.
Head of International Cooperation Department Le Huu Phuc said the collaboration marks the first initiative to address corporate sustainability in the context of specific segments of the economy in Vietnam.
Through identifying and encouraging the adoption of international best practice in sustainable industrial development, the project is expected to boost investments in manufacturing, drive innovation and promote skills development in Vietnam, Phuc added.
He noted that Vietnam has enjoyed high industrial growth but added values and technology application rates have remained low, and adding that reasonable and feasible policies are important to the country to develop its industrial sector with higher added values and competiveness.
With the new free trade agreements, the competitiveness and the role of industrial policies seem more important. The sensible and feasible policies would be the basic foundation to enhance the competitiveness and higher added values of the national industrial sector.
Addressing the launch ceremony, Head of International Cooperation Department under the Ministry of Industry and Trade Le Huu Phuc said the ministry vows to try its best efforts to support the work, adding that Vietnam would develop strongly its industry sector thanks to the project.
Photo for illustration
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Particularly, the project will enable international exchange of knowledge and technology, foster manufacturing capabilities development and promote global value chains across key manufacturing segments of the economy, according to Phuc.
Ludovico Alcorta, Director of the UNIDO’s Development Policy, Statistics and Research in Austria, hoped that Vietnam and the UNIDO will work closely to realise the project’s goals.
Republic of Korea (RoK) Consul General to Vietnam Park Sang-shik said the RoK will share its experience in technological development with Vietnam as well as support Vietnam to carry out the project.
Head of International Cooperation Department Le Huu Phuc said the collaboration marks the first initiative to address corporate sustainability in the context of specific segments of the economy in Vietnam.
Through identifying and encouraging the adoption of international best practice in sustainable industrial development, the project is expected to boost investments in manufacturing, drive innovation and promote skills development in Vietnam, Phuc added.
He noted that Vietnam has enjoyed high industrial growth but added values and technology application rates have remained low, and adding that reasonable and feasible policies are important to the country to develop its industrial sector with higher added values and competiveness.
With the new free trade agreements, the competitiveness and the role of industrial policies seem more important. The sensible and feasible policies would be the basic foundation to enhance the competitiveness and higher added values of the national industrial sector.
