DNVN - According to CIEM's assessment, Vietnam still lacks a unified, synchronous and strong enough legal framework to serve as a basis for promoting internal restructuring of the industrial sector. Development policies for priority and spearhead industries are scattered and lacking focus, leading to ineffective use of resources...
At the workshop "National Industrial Policy: Some New Trends and Vision for Vietnam" on December 20 in Hanoi, Dr. Tran Thi Hong Minh - Director of the Central Institute for Economic Management (CIEM) said that the 4.0 industrial revolution is fundamentally changing the economic development model, production methods and global value chains. Countries around the world, especially large economies, have been adjusting their industrial strategies to adapt to this trend, taking advantage of new technology to improve competitiveness and sustainable development.
In addition, global challenges such as climate change, natural resource depletion and the urgent need for sustainable development are putting enormous pressure on countries, especially developing economies like Vietnam. In this context, adaptation and mitigation of impacts on economies depends not only on countries’ environmental policies, but also on the capacity to develop new industries to create momentum for the adaptation and mitigation process.
Dr. Tran Thi Hong Minh - Director of the Central Institute for Economic Management (CIEM).
"In the context of deep international economic integration and increasingly fierce competition, the development and implementation of an effective national industrial policy is not only an urgent requirement but also a long-term strategic one. Today's industrial policy not only helps to orient and motivate the development of individual economic sectors, but also must create new driving forces to enhance national competitiveness, promote sustainable economic growth and increase the level and efficiency of participation in the global value chain," the Director of CIEM emphasized.
Ms. Minh said that the new development model requires identifying industries and fields with static and dynamic competitive advantages, associated with improving both innovation capacity and the independence and autonomy of the economy.
“International economic integration is still a major trend and still limits the use of traditional trade policy tools to protect imports, but this is also a positive 'pressure' for countries' industrial policies to have adjustments in both content and implementation methods,” said Ms. Minh.
Mr. Nguyen Anh Duong - Head of General Research Department, CIEM.
Presenting the report “National Industrial Policy: Some New Trends and Visions for Vietnam”, Mr. Nguyen Anh Duong - Head of the General Research Department, CIEM said that the legal framework on industrial policy in Vietnam has been gradually improved. According to the Global Innovation Index report in 2024, Vietnam is ranked 44th out of 133 countries and economies, up 2 places compared to 2023. Vietnam has 3 leading indicators in the world: high-tech imports, high-tech exports and creative goods exports as a percentage of total trade transactions.
However, in assessing industrial policy compared to new trends, Mr. Duong said that Vietnam still lacks a unified, synchronous and strong enough legal framework to promote internal restructuring of the industrial sector. Development policies for priority and spearhead industries are scattered and lack focus, leading to ineffective use of resources.
Lack of coordination between localities has led to unhealthy competition. Management of industrial development through specialized legal systems, especially regulations on tax, investment and land, has revealed many shortcomings. Capacity building for industrial enterprises in the context of implementing commitments of FTAs such as rules of origin, trade defense and technical barriers has not been improved.
Based on this situation, CIEM recommends focusing on promoting the export of high value-added products, attracting quality foreign investment and creating favorable conditions for domestic enterprises to effectively connect with regional and global supply chains. Solutions such as improving production capacity, training human resources, and improving access to finance will help enterprises, especially small and medium-sized enterprises, overcome current barriers and gradually contribute to the self-reliance of the economy, including in new industries and fields associated with digital transformation and green transformation.
CIEM also recommends strengthening substantive links between domestic and foreign enterprises, thereby forming a sustainable industrial ecosystem that adapts to global development trends, aiming to build a modern and sustainable industry.
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Source: https://doanhnghiepvn.vn/kinh-te/chinh-sach/can-chinh-sach-cong-nghiep-dot-pha/20241221125715182
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