Vietnam trade ministry to seeks UNIDO support in drafting industrial law

The Ministry of Industry and Trade (MoIT) is seeking cooperation from the UN Industrial Development Organization (UNIDO) in drafting the industrial law that takes into account new global trends of the manufacturing and processing sector for sustainable and green development.

Minister of Industry and Trade Nguyen Hong Dien (l) and UNIDO General Director Li Yong. Source: Cong Thuong Newspaper

Minister of Industry and Trade Nguyen Hong Dien shared his view in a meeting with UNIDO General Director Li Yong on September 7, which was held on the sideline of the fifth World Conference of Speakers of Parliament (WCSP5) in Austria with the attendance of the Chairman of National Assembly Vuong Dinh Hue.

“UNIDO, as the UN system’s industrial development arm, has a key role in supporting the next development phase of Vietnam’s industrial sector,” said Dien.

According to Dien, UNIDO is facing unprecedented challenges to support its members overcome the Covid-19 crisis, with the foremost task being to avoid disruption of supply chains and promoting sustainable industrial development to aid economic recovery in the post-Covid-19 period.

To further strengthening bilateral supports, Dien called for UNIDO to support Vietnam in drafting industrial policy in line with the country’s ongoing efforts for global integration and Industry 4.0, as well as assessing the impacts of 4.0 Industry to Vietnam’s key industrial sectors, including garment, footwear or electronics.

“Vietnam is looking to build sustainable development model based on a green industrial sector that promotes energy efficiency and application of clean technologies,” Dien said while saying such a move would help benefit small and medium enterprises (SMEs).

Dien also suggested UNIDO assist Vietnam in developing basic industries such as chemicals, mechanical engineering, or supporting industry, and facilitating foreign direct investment (FDI) from modern industrial countries into such sectors in Vietnam.

“Vietnam’s automobile industry is in need of foreign and private investment to ensure its green growth that is environmentally friendly, including a shift towards electric vehicles,” he said.

Overview of the meeting.

The ministry called for UNIDO support in building smart factories to help Vietnam’s SMEs enhance productivity and lower production costs; promote the circular economy and its benefits in the management of natural resources, energy, and industrial waste treatment.

For his part, UNIDO General Director Li Yong said the agency is committed to cooperating with the MoIT in facilitating joint projects in the coming time, including a strategy for industrial development and capacity building.

Through UNIDO training courses, the ministry’s staff would be able to master analysis tools for greater efficiency in the policy-making process and contribute to the development of the industrial sector.