Vietnam Encourage the Development of High-tech Assistance in the Garment Textile Industry

The Prime Minister of Vietnam issued the 12/2011/QD-TTg announcement on February 24th, 2011, relating to the provision of assistance for the development of several third-party industries, and stipulating that the implementation of the provisions will begin on April 15 of this year.

Foreword No. 12/2011/QD-TTg Letter Announcement stipulates the production of materials, components, and subassemblies for the production and assembly of machinery manufacturing, electronics, information, assembly and production of automobiles, garments and textiles, leather footwear, and the development of high-tech industries in Vietnam. Cooperative industries such as semi-finished products and semi-finished products provide preferential development policies, including encouraging the development of related markets, developing industrial infrastructure projects, developing production technologies, training human resources, and providing information and financial assistance, among which products that are engaged in the forefront of industrial production, Free advertising services can be provided on the website of Vietnam Ministry of Industry and Commerce and the Department of Industry and Commerce;

Give priority to granting assistance from investment and trade promotion to allocate funds; prioritize the provision of plans for investment land; prioritize the use of funds for the development of science and technology**; enjoy preferential tariffs on imports and exports; review development investment in the country in accordance with current regulations* * Apply for some ** and so on.

The Prime Minister of Vietnam instructs the Ministry of Commerce and Industry to take the lead, collaborate with the Ministry of Science and Technology and other relevant ministries to work out a list of priority projects for encouraging the development of cooperative industrial products, submit them to the government for approval, and at the same time periodically review and amend the list of projects according to the needs of each development period. Report to the government for approval.

In addition, the Prime Minister also requested the Ministry of Industry and Commerce to set up a Development and Industry Cooperation Review Committee chaired by the Minister of Commerce and Industry. The members include the Planning and Investment Department, the Ministry of Finance, the Ministry of Science and Technology, the Ministry of Information Transmission, the Ministry of Justice, the Ministry of Resources and Environmental Protection, the Central Bank, and related industries. Representatives of the Association reviewed the plans to invest in the list of industrial products for the first time.

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