The mechanical engineering industry needs supportive policies from the Government to enhance its competitiveness during the fourth industrial revolution, officials and industry experts have said.
VOV.VN - An international exhibition showcasing some of the most advanced technologies, machinery and equipment in the plastic and rubber industry (VietnamPlas 2018) opened in HCM City on October 4, drawing over 520 suppliers from 14 nations and territories across the globe.
The Ministry of Finance has promised to study and report to the Government recommendations by the Vietnam Association of Mechanical Industry (VAMI) on policies to promote domestic automobile production.
The Government needs to adopt comprehensive policies to develop the country’s mechanical engineering industry, an industry business group has said.
Some foreign investors have warned that they may leave Vietnam because of unfavorable conditions to do business. However, Vietnamese businesses and analysts believe they will stay in the country.
Automobiles which are priced higher in Vietnam than in regional countries is the reason for the sluggish development of the automobile industry, experts say.
Eight automobile and mechanical firms plan to set up a "automobile board" in order to protect domestic producers in anticipation of 2015 tax cuts on imported vehicles.