(VOVworld) – The National Assembly began a question and answer session on Monday afternoon under the chairmanship of Chairman Nguyen Sinh Hung. Minister of Industry and Trade Vu Huy Hoang was the first cabinet member to answer deputies’ questions on the development of the support industry for Vietnam, market management, manufacturing industry, the processing of agricultural products, and combating counterfeit and fake goods.
Minister of Industry and Trade Vu Huy Hoang answers NA deputies' questions on Monday. |
Regarding deputies’ questions about development policies for the support industry, Minister Hoang said it had seen progress in some fields. For example, the production of passenger cars have used 80% of locally made components. The current rate is 70% for specialized trucks, 70% for cars, and about 40% for electronic and household utensils. Minister Hoang said the Government had issued incentives to develop 6 support industry fields in 2011, but the policies have not been sufficient. He expected the NA to issue a resolution to promote the support industry so Vietnam can join the global value chain. “Besides fine tuning policies, we hope the NA will adopt the revised Tax law relating to the support industry such as incentives for enterprise income tax and personal income tax for foreign experts working in this sector in Vietnam.”
Minister Hoang said the revision of hydropower plants has basically been completed since the issuance of NA Resolution 62 a year ago. He said: “Before the Resolutionmore than 400 hydropower projects were cancelled. An additional 62 projects which hadn’t attracted investment were scraped after the resolution issuance. The resolution has raised the awareness among investors of construction, operation, and the management of hydropower projects.”
Regarding queries about world leading retail groups investing in Vietnam next year, Minister Hoang said Vietnam planned to open the industry in line with a set roadmap so that domestic companies could compete with foreign businesses. He noted that Vietnam is not worried about the presence of foreign retailers in the domestic market but considers it an opportunity for local operations to better themselves and further develop.