Siemens industry support

The supporting industries in Dong Nai Province are divided into various groups, including fiber, yarn, and fabrics; electronic components, tools, and spare parts; equipment for all kinds of machinery; input materials for the footwear industry. Many world-famous corporations in the field of supporting industries are present in the province, such as Bosch, Hyosung, Fujistu, Schaeffler, Vision Group, Kenda, and Mabuchi Motor. The province has seriously selected FDI projects so the statistics in recent years showed that 50 percent of FDI capital into the country belonged to the supporting industries. The goal of the province in prioritizing capital attraction for the supporting industries is to provide input materials for many other enterprises in the province and gradually increase the localization ratio of export products. Therefore, it will be easier for enterprises to enjoy tariff incentives from effective free trade agreements that the country has signed. In the past years, in … [Read more...] about Dong Nai attracts investments in supporting industries

The Vietnam Timber and Forest Product Association reported that exports of timber and wooden products would fall significantly in the next three-six months due to the impacts of COVID-19. That could lead enterprises to cut 70 per cent of capacity and even temporarily suspend production. … [Read more...] about Solutions should prioritise maintaining industrial production

Hanoi (VNS/VNA) - The Ministry of Industry and Trade (MoIT) said that the most important priority at present was to maintain the operation of domestic industrial enterprises during the COVID-19 pandemic. The pandemic has caused a lot of difficulties for enterprises in Vietnam, especially industrial enterprises. If an enterprise is closed due the pandemic, its workers lose their jobs and it has negative impacts on other businesses in the supply chain. According to the ministry, many key industrial sectors had suffered greatly from the COVID-19 pandemic, especially electronics, textiles, leather, footwear and furniture. The textile, garment, leather and footwear industries have suffered due to a decline in demand in the US and European markets, which has had strong impacts on national export value. New orders in April and May are expected to fall by about 70 percent. The ministry predicted that the likelihood of new orders this year end was … [Read more...] about Solutions should prioritise maintaining industrial production: MoIT

The ministry has asked the Government to consider a support package for corporate income tax for small- and medium-sized enterprises, especially in support industries and labour-intensive industries such as textiles, garments, leather and footwear. … [Read more...] about Solutions should prioritise maintaining industrial production: ministry

At the beginning of this year, many experts said that the wood industry of Binh Duong Province would continue to make breakthroughs and might help the country’s wood export value to hit US$12.5 billion but the pandemic has hindered enterprises. Port closure in some countries has made production curtailed with many enterprises temporarily halting operations to wait for the pandemic to end to ensure the health and safety of their workers. According to the Chairman of the Binh Duong Furniture Association (BIFA), Mr. Dien Quang Hiep, the province has 1,600 enterprises operating in the wood industry, accounting for 40 percent of the total number of timber enterprises across the country. In January and February this year, the export value of enterprises posted growth but since the beginning of March to now, the Covid-19 outbreak has caused 30 percent of enterprises to temporarily pause their operations. Enterprises that received orders to export to the US, Denmark, and countries in … [Read more...] about Binh Duong wood industry strives to overcome difficulties