Hanoi has released a plan to develop 30 to 35 key industrial products in 2023, with half of them being entirely new.

Hanoi plans to have 35 key industrial products in 2023. Photo: The Hanoi Times

Under the plan, the local authorities will invite 30 to 40 technology developers from developed economies such as the US, EU, Japan and South Korea to join the program.

The city hopes these international enterprises will provide both technical and financial assistance for local industrial producers to develop their key products.

Hanoi will provide incentives for all enterprises that join the program. In addition, it will continue to improve the business environment, and support key industrial product developers to adopt sciences and technologies in their production.

Specifically, local authorities will assist the enterprises to develop their manpower, intensify trade and promotion activities, and help them commercialize their industrial products.

Hanoi will closely supervise the development and construction of high-tech parks and industrial parks that are integrated with advanced technologies to limit environmental pollution and strengthen enterprises’ competitiveness.

Furthermore, these high-tech and industrial parks will be linked with other areas of the capital city to give an extra boost to the supply of inputs to the city. Hanoi will also relocate polluting industrial facilities away from residential, urban areas to better protect the local environment.

According to the Hanoi People’s Committee, the plan for key industrial product development will focus on the fields in which local enterprises are strong and able to provide added value for the global supply chain.

These key industrial products are expected to result from the use of clean, environmentally-friendly technologies, thus creating a foundation to boost other sectors and the economy.

Meanwhile, the city hopes to increase the competitiveness of local industrial producers and strengthen the connection and cooperation between Hanoi-based industrial enterprises and other domestic and international companies.

On December 15, 2022, the Hanoi People’s Committee honored 33 key industrial products from 25 enterprises. The selected enterprises earned a combined revenue of VND76.8 trillion (US$3.27 billion) and an export turnover of $550 million this year.