Authorities in central Da Nang city have adopted a host of key measures to speed up economic restructuring in 2020-2025, focusing on strengthening hi-tech and supporting industries and IT development in connection with building startups and innovative urban areas and smart cities.

Hanoi has set a target of having 900 businesses operating in supporting industries this year, with 300 eligible to join global production networks of multinational groups in Vietnam.

Helping businesses revive production and trading is one of the important tasks that the Department of Industry and Trade of Ho Chi Minh City will focus on in 2021.

The Ministry of Industry and Trade (MoIT) will pay greater attention this year to the implementation of projects manufacturing products in supporting industries, as many opportunities have appeared for Vietnam to bolster production and exports.

VOV.VN - The Japan Trade Promotion Organisation (JETRO) will host an online scheme on March 3 in Hanoi aimed at connecting Japanese businesses in the field of manufacturing and production, known as Monozukuri in Japanese term to facilitate co-operation amid the negative impacts caused the COVID-19 pandemic.

Vietnam posted an estimated trade surplus of US$1.3 billion in January, according to a report recently announced by the Ministry of Industry and Trade (MoIT).

The central city of Da Nang has set a goal of developing supporting industries in tandem with high-tech industry to create products with high added value for export.

The Vietnamese Ministry of Industry and Trade is actively implementing a lot of supporting industry development programmes, given the great importance of supporting industries.

VOV.VN - Vietnam's total import-export turnover enjoyed a surge of 5.1% to US$543.9 billion compared to 2019 despite facing numerous difficulties throughout 2020, with the country posting a trade surplus of US$19.1 billion, the highest level for five consecutive years since 2016, according to the General Statistics Office.

Vietnam needs to increase policies to promote the development of the domestic mechanical engineering industry and enable local manufacturers to compete with foreign competitors.