Launchingdatabase system of Vietnamese manufacturing and supporting industries

On June 19th, Ministry of Industry and Trade cooperated with International Finance Corporation (IFC) of the World Bank Group, undersponsorship from Australian Department of Foreign Affairs and Trade (DFAT) andSwiss State Secretariat for Economic Affairs (SECO) to organize “Launch Ceremony of the database of Vietnamese manufacturing and supporting industries”.

Minister of Industry and Trade Tran Tuan Anh acknowledged that manufacturing industry is considered as the backbone of the economy, the foundation and the driving force for the growth of the entire Vietnamese industry. With the growth rate maintainingat around 10.6% per year, the manufacturing sector is regarded as the “bright spot” of Vietnamese industry in general in the context of global economic downturn due to COVID-19pandemic.

In addition, the manufacturing industry is also the key sector attracting foreign investment. Only in 2019, the whole country attracted 3,478 new projects, with the total capital of nearly 31.8 billion USD, the manufacturing sector accounted for the highest proportion with the total capital of 21.6 billion USD, making up 67.8% of the total registered investment capital.

“However, during the last time, end-to-end linkage in the production chain has not been really strong, enterpriseshave been still struggling with the story of supply-demand connection”, said the Minister.

Therefore, the central task is to devise and complete the statistical system, database of manufacturing industries prioritized for development and supporting industries to promote connection between Vietnamese suppliers and multinational corporations; improve the efficiency of state management and build policies on supporting industries; enhance the quality of statistical work, ensure timelyand accurate information.

According to statistics by 2019, the number of enterprises operating in manufacturing industry is about 110,000; in which, supporting industry accounts for nearly 4.5% of the total number of enterprises in the manufacturing industry; creating jobs for more than 600,000 workers, equivalent to 8% of the total number of employees in the entire manufacturing industry with net revenue of production and business in 2019 estimated at more than VND 900,000 billion, contributing about 11% to the total revenue of the entire manufacturing industry.

Mr. Truong Thanh Hoai, Director General of Industry Agency (Ministry of Industry and Trade) shared, the project “The Database of Vietnamese manufacturing and supporting industries” is one of the important and meaningful programs thatIndustry Agency coordinated with IFC to actively implement during the last time, in order to support the provision of complete information about enterprises to organizations and individuals wishing to find out, connect, trade; provide foreign-invested enterprises with an overview of production capacity, supply capability, product quality and technology of Vietnamese manufacturing enterprises, and at the same time enhance connectivity among Vietnamese enterprises, FDI enterprises and investors.

In addition, the application of information technology in 4.0 revolution in business of enterprises and state management has been step by step promoted, the digitization of information of enterprises will help information searching and information management to become fast and convenient.

Especially, in the context of COVID-19 pandemic outbreak, face-to-face business matching activitiesencounter many difficulties, the fact that the system is officially put into operation will play its role in helpingenterprises to connect and seize opportunities from new-generation free trade agreements in which Vietnam participated such as CPTPP or most recently EVFTA.

Swiss Ambassador Extraordinary and Plenipotentiary, Mr. Ivo Sieber said: Switzerland prioritizes the accompanying Vietnamese enterprises to enter theinternational market through technical support to improve production chain linkage capacity. This activity directly contributes to Vietnam’s sustainable economic development.

After the process ofconducting survey to collect enterprise information, up to now, Industry Agency has updated the database systemof information aboutenterprises, including 500 enterprises in mechanical fabrication sector, 347 enterprises in automotive industry, 750 enterprises in electronics industry, 1,145 enterprises in textile and garment industry, and 910 enterprises in footwear- leather industry. Up to the present time, the database system has reached more than 1.5 million accesses and is continuing to increase rapidly.

In the coming time, the Government will continue to provide resources and financial support to improve the qualifications of the staff managing the database system, expand information data of many industries and continue to develop new features allowingenterprises to create their own booths to introduce products, proceed to establish an e-commerce platform for manufacturing and supporting industries, helping enterprises proactively approach, promote cooperation, contributing to stronger development of Vietnamese industry in the future.

Source: Newspaper

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