VGP - The Viet Nam Association for Supporting Industries (VASI) was officially established on March 18 with a view to enhancing supporting businesses’ involvement in policy-making process.
The association was also designed to support member businesses to improve their capacity and seek domestic and foreign partnerships.
Currently, processing and manufacturing industries contributed around 14% to the country’s GDP compared to 26% in Thailand and 36% in China, respectively, according to Mr. Truong Thanh Hoai, Director-General of the Heavy Industries Department of the Ministry of Industry and Trade (MIoT).
The modest figure was mainly attributed to weak linkages among supporting businesses, noted Mr. Hoai.
The VASI came into existene as one of the crucial outcomes of the ”Viet Nam Supporting Industries to Europe” project within the framework of the European Trade Policy and Investment Support Project (EU-MUTRAP).
The project is being conducted by the Supporting Industry Enterprise Development Center (SIDEC) and the MIoT’s Industrial Policy and Strategy Institute, under the Ministry of Industry and Trade from June 2014 to June 2017.
By Thuy Dung