Hanoi has announced to increase the number of enterprises in the ancillary industries to 950 by 2023, including one-third obtaining internationally-standardized production lines.

Supporting industrial products were introduced at an international fair in August 2022. Photo: The Hanoi Times

Hanoi also expects these companies to be able to join the global value chains of multinational corporations.

In addition, the capital city aims for the value of ancillary industries to represent between 16% and 17% of the total value of the city's processing and manufacturing industries.

Local authorities also forecast that the supporting industries index will increase by 11-12% in 2023, up 1% from 2022.

Particularly, Hanoi-based ancillary companies are expected to become the suppliers for both domestic and international customers, thus attracting capital flow from overseas investors.

To achieve the targets, Hanoi will hire technical and professional consultants to assist the companies that operate in the prioritized ancillary sectors.

Additionally, the city will support local enterprises to use technologies and systems to improve the quality of corporate governance and production, thus meeting the requirements of the global value chains.

The capital city’s authorities will organize an ancillary industry fair in 2023 with the participation of 200-300 businesses, including international companies from Japan, Taiwan (China), China, and Thailand.

The fair is expected to help Hanoi companies expand their capabilities to join global supply chains.

At the fair, local companies will have the opportunity to meet with international partners to establish joint business operations to produce the necessary components for their major producers.

In 2023, Hanoi also plans to launch several training courses for local companies on corporate governance and production and the standards and requirements of global supply chains.

Local companies in Hanoi will also be assisted in acquiring technologies, software, and digital solutions and adopting new production methods and techniques for materials and components.