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Conference reviews mechanical engineering sector development

Conference reviews mechanical engineering sector development - 

PM Nguyen Tan Dung chaired a conference in Ha Noi on April 11 to review the development of the country’s mechanical engineering sector under a related strategy.

PM Nguyen Tan Dung chaired the conference on reviewing the development of the mechanical engineering sector

The conference also saw the participation of Deputy PM Hoang Trung Hai and leaders of several relevant agencies.

Since the strategy was approved in December 2002, there were changes made by the mechanical engineering sector, including its international integration. Policies on developing the sector have been almost completed so far.

In 2012, the sector’s industrial production value reached VND227,911 billion (US$10.7 billion), a six-fold rise compared to that in 2000 and it was over VND251,000 billion (US$11.8 billion) in 2013.

The sector’s exports brought home US$12.1 billion in 2012 and US$13.18 billion in 2013, making it an important hard currency earner of the country. Meanwhile, the imports, mainly machines and equipment for local production, cost US$22.46 billion in 2012 and US$24.8 billion in 2013.

Beside the achievements, the sector has failed to meet 45-50% of local demand for mechanical products as set forth since 2010. It just supplied over 32% of the country’s needs.

At the event, the Ministry of Industry and Trade suggested many solutions to continue to develop the sector to 2015 with a vision to 2035, and measures to improve policies and mechanisms for the sector’s stronger development in the future.

Source: VGP

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