If it does not take advantage of opportunities, Vietnam will need at least two more decades to reach the per capita added value in the processing and manufacturing industry for newly industrialized countries.

The 2nd Vietnam International Expo on Support Industries and Processing-Manufacturing (VIMEXPO 2021) officially kicked off in Hanoi on December 15.

VOV.VN - A number of key industries such as automobile production and mechanics are viewed as projects that have great potential and prospects for co-operation between Austria and Vietnam, according to the Vietnam Association of Mechanical Industry (VAMI).

VOV.VN - A number of Japanese companies are in the process of considering plans to move part of their production chains to the nation in the near future, according to the Vietnam Trade Office in Japan.

The shortage of high-quality workforce is a “bottleneck” faced by domestic support industry enterprises, said economists.

The Government have issued a host of preferential policies for businesses operating in supporting industries over the past time. However, their beneficiaries have said it is difficult for them to access incentives and support from these policies.

The ninth Vietnam - Japan Supporting Industries Exhibition (SIE) and the Vietnam Manufacturing Expo (VME) opened via videoconference on September 14 night.

Following directions of the Government, the Ministry of Industry and Trade has coordinated with relevant ministries, sectors and agencies to implement measures to improve the competitiveness of businesses operating in supporting industry, thus promoting the growth of the sector.

Vietnamese enterprises operating in the support industry, which account for 4.5% of the total number of enterprises operating in processing and manufacturing, are facing several challenges, according to Akutsu Michio, consultant of the Japan Association of International Business Consultants.

The 2021 Vietnam-Japan Supporting Industry Exhibition (SIE) and the Vietnam Manufacturing Expo (VME) will be held from September 15-17 with both onsite at the Viet Xo (Vietnam-Russia) Friendship Cultural Palace and online via the VME website.