Goals for four out of six industries take shape

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The action plans set targets for four industries: Electronics, agricultural machinery, agro-professing, and environment and energy.

Major producer of electronic equipment

Viet Nam expects to develop the electronics industry with advanced technology, high labor productivity by 2020 to be able to compete in the regional and global markets.

Production value is projected to increase at least 20 percent annually and contribute a minimum of 10 percent to Viet Nam’s overall industrial value by 2020.

The country will strive to become a major producer of electronic equipment with smart and environmentally friendly technologies by 2030.

To concretize the above goals, Viet Nam will focus on developing supporting industries, human resources, domestic and foreign export market, attracting leading electronics manufacturers, developing key products and establishing electronic industry clusters.

Agricultural machinery

The Government encourages manufacturers to supply agricultural machines on the basis of the real demand of farmers while inferior levels are tasked to develop a legal framework for healthy agricultural machinery business.

By 2020, total agricultural output is expected to rise to US$430 billion from US$220 billion in 2010 and the average income per capita to reach US$3,000 per year.

Agriculture sector is projected to contribute 15 percent to the gross domestic product and labor rate will fall from 49 percent in 2010 down to 30-35 percent in 2020.

High-quality agricultural products

Viet Nam will strive to become a trusted supplier of high-quality agricultural products, develop 3-5 agricultural and fishery products that can help promote the image of Vietnamese trademark.

Typical products will include rubber, coffee, tea, shrimp, and vegetables and fruits.

The role of enterprises will be strengthened to promote production-market connectivity and make sure their products are certified by VietGap, GlobalGap, and Rainforest.

The global demand for processing food is expected to increase to US$997 billion by 2015 from US$860 billion in 2010.

Encouraging environmental industry development

The Government encourages the development of environmental and energy-saving industry through improving preferential mechanisms and policies to lure investment from all sectors in this area.

It will also improve the capacity to enforce legislation on environmental protection and energy saving.

Under the Viet Nam – Japan cooperation framework until 2020 with a vision to 2030, Japanese PM Shinzo Abe said that his country would continue to closely cooperate in the implementation of Viet Nam’s action plans for the six key areas under its industrialization strategy: Agro-fishery processing, electronics, automobile and its parts; agricultural machinery; environmental industry and energy conservation; and shipbuilding.