Prime Minister Nguyen Tan Dung has approved the list of prioritized and key industries for 2007-2010, a vision to 2020, and some incentive policies for these industries, state media reports.
Under a decision released April 23, three key industries are defined for the period of 2007-2020, including mechanical manufacturing; information technology, telecommunications and electronic equipment; and new technology products.
In 2007-2010, seven industries are prioritized: textiles and apparels, footwear, plastics, agro-forestry and fisheries processing, steel, bauxite aluminum exploitation and processing, and chemicals.
In 2011-2015, priority will continue to be given to six of the above industries, while plastics will be dropped from the list.
In 2016-2020, the number of prioritized industries will be reduced to four, including textile and apparels, footwear, agro-forestry and fisheries processing, and chemicals.
Vietnam’s industrial sector targets average annual growth of 15.2-15.5 per cent in 2006-2010, and raising the industrial and construction rate of GDP to 44 per cent by 2010.
The country needs around VND900 trillion (US$56.6 billion) of investment capital to boost its industrial sector between 2006 and 2010, accounting for 40 per cent of the entire capital need in the period.
In 2007, the nation is set to achieve the industrial production value of VND575 trillion (US$36.9 billion), up 17 per cent on year. (Government’s Website)
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