According to Vietnam's "industry and trade electronic news" on August 18, Vietnam's Ministry of industry and Trade said that Vietnam's industry has achieved strong development in recent years, but the added value of products is still very low. In assessing the impact of the new outbreak on Vietnamese industry, the biggest weakness of Vietnam's economy was clearly identified. There are only 80000 processing and manufacturing enterprises in Vietnam, which have limited financial capacity and technical level.
According to the report of Vietnam's Ministry of industry and trade, Vietnam's telephone and electronic industries will import US $40 billion of electronic spare parts in 2019, including US $16.8 billion from South Korea, US $13.8 billion from China and US $1.7 billion from Japan. Textile, clothing, leather and footwear industry imports: all kinds of cotton $2.47 billion, yarn $2.3 billion, cloth $12.69 billion and other textile and leather shoes accessories $5.61 billion, of which $2.02 billion of cloth and $710 million of other raw and auxiliary materials were imported from South Korea. The auto assembly industry imports US $4 billion of spare parts, including US $700 million from China, US $1.14 billion from South Korea and US $720 million from Japan.
At present, the domestic added value of Vietnam's two major export products of textile and clothing and electronic products is still very low, 50% and 37% respectively.
In order to continue to implement the task of restructuring the economic structure in the field of industry and trade entrusted by the government, the Ministry of industry and trade of Vietnam will continue to effectively implement the plan and action plan for restructuring the economic structure in the field of industry and trade serving for the realization of industrialization, modernization and sustainable development by 2020, looking forward to 2030, and the Ministry of industry and trade of Vietnam will focus on areas with potential and advantages to create higher added value for Vietnam's industrial Republic Such as automobile, textile and shoemaking industry, electronics, mineral industry, supporting industry.
Vietnam's Ministry of industry and Trade said that it was necessary to coordinate the resources from the central government to the local governments, concentrate on investment and development of industrial projects, especially the supporting industries and important basic raw materials industries (hot rolled steel, cloth, dyeing and finishing, new materials, etc.), and overcome the dependence on imported raw materials and accessories. We will strengthen preferential policies, support high-quality investment, and attract manufacturing industries (including parts and accessories production) moved out of China and other countries to invest in Vietnam.
Vietnam's Ministry of industry and trade will formulate an action plan for the implementation of resolution 23 / nq-tw and a plan for restructuring the economic structure in the field of industry and trade in the period 2021-2030, which will be submitted to the Prime Minister of the government in 2020.
