VIMEXPO 2021 – THE IDEAL MEETING POINT FOR SUPPLY CHAIN DEVELOPMENT OPPORTUNITIES

Date posted: 19/01/2022 Views: 123
 VIMEXPO 2021 – THE IDEAL MEETING POINT FOR SUPPLY CHAIN DEVELOPMENT OPPORTUNITIES

According to the Deputy Minister of Industry and Trade, Mr. Nguyen Sinh Nhat Tan, promoting the fundamental industry, which is supporting industry and manufacturing, is the key task to accomplish the goal of national industrialization and modernization. 

Within the framework of the National Program on the development of supporting industries approved by the Prime Minister, VIMEXPO is an annual international exhibition directed by the Ministry of Industry and Trade, hosted by Industrial Development Center – Vietnam Industry Agency – Ministry of Industry and Trade, organized by C.I.S Vietnam Advertising & Exhibition JSC. This is also the only international exhibition in the field of supporting industries.

The Organizing Committee of VIMEXPO 2021 would like to introduce the speech of Deputy Minister of Industry and Trade, Mr. Nguyen Sinh Nhat Tan, on this important event.


Resolution XIII of the Party and Resolution No.16/2021/QH15 dated July 27, 2021 of the National Assembly on the socio-economic development plan for the year 2021-2025 have identified specifically the objectives of national industrialization and modernization.

Accordingly, by 2025, Vietnam will be a developing country with modern industry, surpassing the low-middle income level, with the proportion of processing and manufacturing industry in GDP reaching over 25%; by 2030, Vietnam will become a modernity-oriented industrialized country with middle-high income, and by 2045, Vietnam will become a modern, industrialized country with high income level.

Resolution No.23-NQ/TW dated March 22, 2018 of the Political Bureau on the orientation to formulate the national industrial policy until 2030 with a vision towards 2045 also identified the point of view “manufacturing industry development is the center, smart manufacturing industry development is a breakthrough” to promote the industrial development process of Vietnam.

The goal set for 2025 according to the guidelines of the Party and the National Assembly is pretty challenging, requiring great efforts and the participations of all stakeholders, as well as the breakthrough in the support policy system in order to promote the growth of manufacturing industry so that within 5 years, the proportion of manufacturing industry in GDP will increase from 16.7% in 2020 to 25% in 2025.

In addition, in the upcoming period, Vietnam’s industrialization process will be placed in a new context. It is the rise of the protectionism in the world, the trend of shifting investment flows and restructuring the global supply chains due to the impact of COVID-19 pandemic, the 4th Industrial Revolution has been profoundly and comprehensively changing the production method globally.

In the country, the trend of changing population structure with a dynamic market size of 100 million people, an expanding middle class and a golden population structure will remain in the next 20 years; meanwhile, labor and land costs are increasingly less competitive compared to other emerging countries while the domestic competition escalates because the economy has deeply integrated with the global, the openness of the economy is large.

In that situation, promoting the development of foundation industries, priority industries, with a focus on supporting industry and manufacturing under the Party’s direction is the key task that State agencies, business community and the whole society must share and work together to accomplish the goal of national industrialization and modernization.

In the context that the Party, National Assembly and the Government together with business community are making effort to promote economic recovery on the basis of safe and flexible adaptation to the COVID-19 pandemic, with the orientation “Connect to Develop”, the 2nd Vietnam International Supporting Industry and ManufacturingExhibition – VIMEXPO 2021 will be even more important in promoting its role as a bridge for domestic and international enterprises, multinational corporations to meet and exchange experiences between agencies, organizations, associations, enterprises operating in supporting industries and manufacturing, help businesses to introduce products, technology and expand investment opportunities.

The exhibition is an affirmation of the Government’s attention and support, also the efforts of the Ministry of Industry and Trade in the development of Vietnam’s supporting industries and manufacturing. It also conveys the message of the Party and Government in the policy of industrial enterprise development is to encourage the development of small and medium enterprises, support enterprises of all economic sectors, support the development of suppliers in priority industries, considering this as the core of the policy of supporting industry development; renew policies and promote attraction of foreign direct investment (FDI) in industry, especially the processing and manufacturing industry.

VIMEXPO 2021 will become an “ideal meeting point” between enterprises, creating opportunities to form and develop domestic value chain through effective investment attraction and promotion of business connections and linkages between Vietnam enterprises with multinational corporations, domestic and foreign manufacturing and assembly companies; contribute to conretizing the policies of the Party and Vietnam Government in building a strong national industry on the basis of developing a system of large industrial enterprises in both quality and quantity.

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