Processing and manufacturing industry (CBCT) is a part of the industrial – construction sector, which is involved in transforming goods, raw materials or different materials into new products. These are economic activities with large-scale production, strongly supported by technological, scientific and technical advances to improve product quality, meeting the requirements of the development process.
Different from other industrial sub-sectors, CBCT industry is the sector that directly creates the material foundation for the economy and society, producing the main material wealth for the country; and is also the sector that has the closest and most intimate connection and connection with the two remaining economic sectors: agriculture and services. On the other hand, developing a strong CBCT industry also creates a solid foundation and develops the market for the service and agricultural sectors and vice versa, effectively developing the agricultural and service sectors serving production is contributing to creating supply sources and improving productivity and operational efficiency of the sectors.
Important role
The CBCT industry plays an important role in economic and social development. It is a part of the industrial sector and a part of the national economy. In the industrial sub-sectors, the CBCT industry plays a leading role, creating the greatest added value for the industrial sector and having an overall spillover effect on the quality of economic growth. The scale and development speed of the industry affect the scale, direction and overall development speed of the entire economy. At the same time, the structure of the CBCT industry has a great influence on the overall economic structure of a country; contributing positively to the GDP growth rate. It is also an industry that provides jobs, attracts workers, and solves a number of social problems… In recent years, a number of CBCT industries such as textiles, garments, footwear, clothing, agricultural processing… have developed strongly, partly due to their ability to attract a large number of workers.
To maintain economic growth and avoid the middle-income trap, Vietnam needs to continue pursuing the goal of industrialization with CBCT industry as the focus. Accordingly, it is necessary to focus more social resources on building and improving the capacity and productivity of domestic industrial enterprises, forming and developing strong industrial enterprises, domestic supply chains and value chains (including production and service activities throughout the chain), with sufficient global competitiveness; create an open and favorable investment and business environment so that domestic industrial enterprises can grow, create greater domestic added value, connect with foreign investment sectors, and participate more deeply in the global value chain.
