Vietnam Support Industry Association established

Vietnam Association of Support Industry (VASI) was officially launched in Hanoi yesterday to connect businesses in the support industry together.

(Illustrative photo: SGGP)

The association will also implement other missions, for instance, contributing opinions about policymaking to develop support industry and relevant industries, assisting businesses to seek markets and link domestic up to export markets.
The idea of setting up the association came from firms in the field, said Mr. Le Duong Quang, head of the association establishment board and former deputy Minister of Industry and Trade.
According to Mr. Truong Thanh Hoai, head of the Heavy Industry Department under the Ministry of Industry and Trade, the processing and manufacturing field contributes only 14 percent of Gross Domestic Product in Vietnam while the rate approximates 26 percent in Thailand and 36 percent in China.

Reason for the low GDP contribution rate is the weak connectivity among businesses, he added.  VASI is necessary amid the current context to link up them together, give opinions for authorized agencies to improve policies and create driving force for the support industry to develop.

By Ham Yen – Translated by Hai Mien

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