Government prioritizes 6 industrial sectors in cooperation with Japan

The Prime Minister recently approved Vietnam’s Industrialization Stragegy in the framework of Vietnam – Japan cooperation up to 2020, and vision to 2030, in which 6 industrial sectors would be given priority to develop into key ones of the national economy with high added value and international competitive capacity.

The 6 industrial sectors include: 1- Electronics; 2- Agricultural machinery; 3- Processing of agricultural and aquatic products; 4- Shipbuilding; 5- Environment and energy saving; and 6- Automobile and spare parts manufacturing.

The 6 priority industrial sectors will serve as the driving force to stimulate investment from foreign and domestic enterprises, especially from Japanese enterprises, and spread technology and skills to other industries in particular and the whole Vietnam economy in general.

By 2020, the priority sectors will take the lead in applying high and clean technology in conformity with Vietnam’s economic conditions; achieve minimum 20% growth of annual production value and at least 35% contribution of the total industrial production value; and rank in Top 10 industries of labour productivity growth. In addition, the sectors which involve in assembling and simple processing with low added value will be shifted to use mostly domestic materials in order to create high added value and gradually enhance the international competitive capacity.