Industry directly produces material goods for society, is a fundamental element of an economy, and plays a vital role in the socio-economic development of a country. In the next phase, Vietnam industry should mainly focus on the followings: 1) Meeting domestic demand and increasing exports; 2) Developing the manufacturing and processing industry, improving competitiveness capacity on the world market; 3) Supporting industries participate in global manufacturing supply chains; 4) Encouraging the development of private sectors, small and medium-scale enterprises; 5) Development of industrial human resources is a condition determining the success of industrialization and modernization process; 6) Developing the industry based on environmental standards and aiming towards green technologies after the year of 2020.
Recommendation for Government to have business support policies and specific measures on the basis of dialogue with all parties in order to: 1) Plan policies and solutions, creating effective action plans to implement these objectives; 2) Building mechanisms, proactively investing in the long-term and implementing policies aiming at sustainable industrial development; 3) Facilitating the connection between business and training in order to implement long-term goals of human resource development for the country.
To achieve this, we should:
1) Improve the efficiency of public administration to serve people and enterprises;
2) Request the Government to submit to National Assembly of Vietnam to pass the Law of industry and supporting industry;
3) Build and publish specific long-term plans to give directions for small and medium-scale enterprises to avoid spreading investment, which is inconsistent with the general capacity of the country;
4) Develop benchmarks in a manual for supporting industries in Vietnam.
5) Apply protective tools, which are appropriate with international law and standards for the production of domestic enterprises;
6) Establish an industrial bank and development fund for supporting industry as a venture capital fund.
7) Quickly draft and publish documents of the Law of Science and Technology and applying this into practice and activities of industrial production;
8) Specify tax incentive policies, facilitating mechanisms to allow access to small and medium-scale enterprises (SMEs) in order to create favourable conditions to invest in manufacturing; at the same time not have the same set of regulations for SMEs and large-scale enterprises.
International organizations and partners have made great contributions to support Vietnam in the process of innovation and integration, we recommend:
1) Government should build international funds to set up and participate in the development of business incubators; developing national projects to support Vietnam in creating a “business handbook” to help entrepreneurs being aware of their responsibility in the business culture and to expand, improve and apply common standards on business;
2) Foreign investors should take advantage of Vietnamese enterprises to establish joint ventures through M & A, especially in the assistance industry, transfer technologies, share markets, and create momentum for Vietnamese enterprises.