In 2021, Hanoi targets to have at least 900 enterprises operating in supporting industries, 300 of which would have production network of international standards and are capable of taking part in global supply chains of multinationals in Vietnam.

Production at Thang Long Metal Wares Company. Photo: Pham Hung

The objective is part of the action plan issued by the Hanoi People’s Committee on March 1, detailing measures to boost the development of supporting industries in the city in 2021.

By the end of this year, industrial production value from the supporting industries is expected to account for 16% of the total value in Hanoi’s processing and manufacturing sector, while the development index of supporting industries would expand by 11% annually. 

Hanoi aims to promote supporting industries based on the city’s growth advantages and in line with the development orientation of its industrial sectors, focusing on three key fields, including manufacturing of parts and accessories, supporting industries for hi-tech industrial sectors and textile and footwear.

To realize these targets, the municipal People’s Committee would support local firms in the supporting industries to become suppliers for domestic and international clients, as well as attracting foreign investment capital into the supporting industries.

Hanoi also plans to assist enterprises in applying modern corporate governance to meet requirements of global supply chains, promoting R&D activities, technology transfer and upgrading new technologies in the production of new parts, materials and resources.