EU-funded project improves VN support industry

The EU-funded project “Viet Nam’s Supporting Industries to Europe” has helped enterprises in supporting industries increase their sales.-Photo vtown.vn

During a seminar held in Ha Noi on Monday to review the project, Director of the Supporting Industry Enterprises Development Centre (SIDEC) Truong Thi Chi Binh said out of more than 200 participating enterprises, 98 per cent have increased sales, while 38 per cent have recorded higher export earnings.

The project has connected spare parts manufacturers with buyers worldwide, particularly those in the European market, and assisted in building relevant policies.

Thanks to the project’s support, the Viet Nam Association for Support Industries (VASI) was launched in March 2017 which links together businesses, organisations and individuals working in the field.

Up to 30 training courses in manufacturing-trade have benefited 1,500 people while 67 stalls were organised for businesses in eight international fairs in Europe.

Do Thi Thuy Huong from the Viet Nam Electronics Industries Association said the project has made it easier for Vietnamese firms to supply products to Samsung.

Participants suggested that ministries and agencies concerned offer support in training, connectivity and joining international fairs.

According to Binh, Viet Nam is strong in products requiring both machinery and hand assembly, such as electronic circuits, which sell well at international fairs.

The Government was urged to offer incentives to businesses regarding loans, technology and training in order to facilitate Viet Nam-European Union (EU) trade.

The VASI also needs to improve its consultancy capacity and training for manufacturing firms.

The “Viet Nam’s Supporting Industries to Europe” project was funded by the EU with a total cost of more than 412,000 euros.

Carried out from June 2014 – June 2017, it aims to improve the capacity of Viet Nam’s small and medium-sized enterprises in the support industry, particularly in engineering, electricity-electronics, plastics and rubber.