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.

A forum on the linkage and investment opportunities for small and medium enterprises (SMEs) was held in Ho Chi Minh City on December 9 as part of the US Agency for International Development (USAID) Linkages for Small and Medium Enterprises (USAID LinkSME) project.

VOV.VN - The Vietnam International Supporting Industry and Manufacturing Exhibition 2020, the first of its kind, got underway in Hanoi on December 9 with over 170 domestic and foreign businesses taking part in the event’s debut.

Companies in the supporting industry will get an interest rate subsidy from next year in an effort to promote the development of the part-supply industry, said Pham Tuan Anh, Deputy Director of the Industry Agency under the Ministry of Industry and Trade.

VOV.VN - Firms operating in the electronics and supporting industries have been advised to be well-prepared for a fresh investment wave from Europe in the hi-tech field, according to insiders.

VOV.VN - To make use of the global shifting of foreign investment, local firms in the supporting industry have been advised to enhance their capacity to join global supply chains, according to insiders.

Vietnamese businesses operating in support industries have been developing in both quantity and quality in recent years, with improved production capacity and increasing engagement in global production chains.

Vietnam has worked to raise the number of local part suppliers in the global supply chains, aiming to have about 1,000 enterprises capable of supplying directly to assembly enterprises and multinational corporations by 2025.

VOV.VN - Despite German investors viewing Vietnam as a potential market and attractive investment destination, foreign direct investment (FDI) inflows from the European country have failed to meet expectations, according to insiders.