Vietnam increases backing for supporting industry development

The government decided to increase backing for supporting industry development, said the Ministry of Industry and Trade.

The government increases backing for supporting industry (Photo: SGGP)

The government will provide maximum support to enterprises which are suppliers of local and foreign companies, which attract foreign investors in the supporting industry or help other enterprises to apply management system to meet production chains in the globe, help research and development, application of transferred new production technology of accessories, materials.

Enterprises which spread information of supporting industry annually will also receive most support while enterprises which provide training to improve personnel quality will receive support equivalent to 70 percent of the cost from the government.

The People’s Committee in Ho Chi Minh City also has a program to support enterprises in supporting industry, which started on March 26, 2017. Enterprises in the field of mechanism, rubber, food processing, electronic – IT, textile-garment are eligible for loans with preferential interest in seven years after the first disbursement.

By LAC PHONG, MINH HAI – translated by Uyen Phuong

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