Vietnam’s Mechanical Industry aims to develop with the majority of majors having advanced technology, product quality meeting international standards, participating more deeply in the global value chain, and using energy economically. , efficiency, equal competition in the world market.
“Promoting the export of mechanical products” is the topic of the latest trade promotion conference with the system of foreign trade agencies (August 8) organized by the Ministry of Industry and Trade in the form of Direct and online collaboration with 2023 provinces and Vietnamese Trade Offices abroad.
The driving force for national economic growth
In today’s modern, strongly integrated and constantly developing economy, the larger the international market is dominated by a country’s goods and brands, the stronger that country’s economy is. It can be said that the product brand, the corporate brand and the national brand have a very close and interactive relationship, directly affecting each other.
Mechanical engineering is one of the industries with a long history and is identified by the Party and State as a “backbone” industry, acting as a driving force for growth of the national economy. Expand production and business, especially in some industry groups such as mold mechanics, high-tech mechanics, machinery and equipment, spare parts…
Speaking at the Conference “Promoting the export of mechanical products”, Director of the Department of Trade Promotion (Ministry of Industry and Trade) Vu Ba Phu assessed that the Mechanical industry has had a remarkable growth and improvement. localization rate, creating motivation to promote industry and economic development. Thereby, directly and indirectly creating jobs for millions of workers.
However, according to assessments, although Vietnam’s industrial competitiveness index is increasingly narrowing, it ranks 44th in the world. However, the above figure includes industrial products held by foreign direct investment (FDI) enterprises, while Vietnam’s mechanical, processing and manufacturing enterprises are much lower. .
At the same time, the growth rate of labor productivity in industry is also very low compared to other countries in the region; Technology innovation is slow, most of it lagging behind the world average; There is a shortage of high-quality, skilled human resources in industry. On the other hand, restructuring within the processing and manufacturing industry is still slow, mainly processing and assembly activities in the low segment of the global value chain. Vietnam has not been proactive in input sources for production, having to import up to 91,2% of production materials, leading to low localization rates and domestic added value. Many products of Vietnam’s mechanical engineering industry are not competitive enough, an important part is due to the lack of “famous” products“.
However, in reality, although there are not many “famous” brands, the Vietnamese Mechanical Industry has also contributed typical brands that have had a certain position in the world market, such as Hoa Phat, Vinfast, Thanh Hoa. Cong, Thaco… The domestic mechanical industry has also manufactured a number of product sub-sectors that have competitive advantages domestically and regionally, such as steel structure manufacturing product sub-sectors, and darts production. standards, manufacturing a number of machines, equipment, and spare parts to serve the needs of the electricity, oil and gas, mineral exploitation, construction material production, manufacturing a number of farming, processing, and preservation machines. forestry and seafood, automobile assembly, ocean ship building, passenger ships and water transport…
