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Components industry starts to come of age
The support industry of HCM City in recent years has produced many international-standard accessories to replace imported ones, meeting 70 per cent of local demand, according to industry insiders.
They said the industry had adapted new technologies to produce high quality parts and accessories for vital industries such as engineering, automobile, electricity, electronics, garments and plastics.
Parts for sewing machines, motorbikes, fans, engines and automobiles have been made locally as a substitute for imports.
The industry has previously met only 10 per cent of the local demand, forcing manufacturers to import many parts and accessories to continue production.
Many garment factories, for example, find it difficult to seek replacements for some of their sewing machine parts, such as rotating shuttles and bobbin boxes.
The city said it would give top priority to foster key industries such as engineering, automobiles and engine parts.
In recent years, many engineering factories have focused on upgrading technologies and equipment, training workers, applying IT technology in production, and hiring technical experts to make high quality products and accessories competitive to products on the global market.
The efforts have helped the industrial sector adapt technology from overseas enterprises to produce agricultural machine parts, auto accessories, electrical parts and plastics items, batteries and hand tools for the domestic market.
The city will also issue incentives policies such as providing preferential loans to industrial projects which are environmentally friendly and energy efficient as part of an effort to foster support industry production.
So far this year, the city’s stimulus package has provided subsidised loans for 28 industrial projects involving main support industries such as machinery and parts for construction materials, household appliances and electronics. The stimulus package has provided a total of VND2 trillion (US$110 million) for the industrial sector including the support industry to increase production of essential machines and parts such as electric equipment, electric wires and cables.
As a result, many enterprises in HCM City-based export processing zones and industrial parks have produced many international standard accessories to meet domestic consumption and export.
Industrial value in the first nine months of this year increased by nearly 6 per cent compared with the same period last year. A total of 17,200 labourers have been provided jobs in industrial enterprises.
The Government’s subsidised loan schemes since February has helped the industrial sector maintain production, reduce production costs and provided several thousand jobs.
vietnamnews
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