Cooperation between the State, scientists, commercial banks and enterprises is needed to strengthen the development of Ho Chi Minh City’s key industrial products, a city official said at a seminar held on November 7 by the municipal Department of Industry and Trade.

At the seminar

Le Thanh Liem, Vice Chairman of the municipal People's Committee, said the city would continue to issue incentives to boost the competitiveness of key industrial sectors and support businesses in priority areas, including mechanical automation; electronics and information technology; food and foodstuff processing; and chemicals, plastic and rubber. 

It will also continue to offer financial assistance to companies that produce key industrial products. Loans worth thousands of billions of VND, for example, have been offered to enterprises to purchase equipment and join trade promotion programmes, according to Liem.

Companies operating in key industrial product groups as well as firms with high potential will be given priority for land use under the city’s key industrial product programme.

Small- and medium-sized enterprises involved in key industrial product groups will receive training and consultancy in quality management, innovation, intellectual property rights, and branding disputes. In addition, the city will help businesses acquire certifications in advanced technologies, Liem said.

Nguyen Ky Phung, Deputy Director of the city’s Department of Science and Technology, said the department had funded many projects to manufacture domestically made equipment that costs 30-70 percent less than imported equipment of a similar quality. 

Scientists from universities and research institutes have also urged enterprises to become more involved in collaborative efforts, he said.

Incentives to support sectors with high development potential should also be given, experts said, adding that assistance in new production technology, better data systems and human resources development should be provided.