Within the framework of the Macroeconomic Reform/Green Growth Program funded by the German Federal Ministry for Economic Cooperation and Development through the German International Cooperation Agency (GIZ), the Central Institute for Economic Management (CIEM) organized the Workshop “National Industrial Policy: Some New Trends and Visions for Vietnam” on December 20, 2024.
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The world and regional economies are currently witnessing rapid, strong and profound changes in many aspects, notably the unprecedented development of the Fourth Industrial Revolution (Industry 4.0). With a focus on digital transformation, artificial intelligence and high technology, the Fourth 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 (including increased extreme weather events), 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.
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.
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With that in mind, CIEM has conducted research and developed the report “National Industrial Policy: Some New Trends and Visions for Vietnam”. Presenting the research results, Mr. Nguyen Anh Duong, Head of the General Research Department, CIEM, said that the report aims at three main objectives: (i) Analyzing the theoretical basis and trends of national industrial policies in the world; (ii) Assessing the level of adaptation to new trends of industrial policy in Vietnam; and (iii) Proposing a new vision and policy recommendations for sustainable national industrial development and innovation in the new context.
The report emphasizes the importance of shifting the industrial structure towards increasing technology content and innovation. Focusing on developing key economic sectors such as high-tech industry, deep processing and fields associated with digital technology will create a breakthrough foundation for Vietnam's competitiveness.
In addition, developing a green economy, associated with motivating businesses to exploit value from new models such as circular economy and applying innovation, is also an important direction to transform the industrial sector towards "greening" and "modernization".
Accordingly, the report particularly emphasizes the role of institutional and policy reforms in promoting sustainable development. Reviewing and perfecting the legal framework and improving the investment and business environment will help Vietnam take full advantage of new development trends, free trade agreements and effectively respond to global challenges such as climate change and resource depletion.
In addition, the report also analyzes industrial policy orientations and requirements to resolve Vietnam's "inherent" problems such as low labor productivity, limited technological development capacity, and dependence on labor-intensive industries.
The recommendations focus on boosting exports of high value-added products, attracting quality foreign investment, and facilitating domestic enterprises to effectively connect to 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 and green transformation.
The report recommends strengthening the substantial linkage between domestic and foreign enterprises, thereby forming a sustainable industrial ecosystem that adapts to global development trends. These contributions affirm the high practical application value of the report in shaping the national industrial strategy, aiming to build a modern and sustainable industry.
At the workshop, experts discussed in depth the trends of industrial policy in the world, assessed the current situation in Vietnam and proposed specific solutions for the next stage.
GIZ has been active in Vietnam for over 20 years. On behalf of the German Government, GIZ provides advisory services to the Government of Vietnam and is currently involved in three priority areas, including vocational training, environmental policy and sustainable use of natural resources, and energy. With the Macroeconomic Reform/Green Growth Programme, GIZ Vietnam directly links activities in priority areas with Vietnam’s “Green Growth Strategy” to achieve long-term effectiveness in all sectors and facilitate Vietnam’s move towards a sustainable future. |
Source: https://thoibaonganhang.vn/chinh-sach-cong-nghiep-quoc-gia-mot-so-xu-huong-moi-va-tam-nhin-cho-viet-nam-159148.html
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