Photo for illustration. (Source: baodautu.vn)

By 2025, key industrial products producers will contribute 40-50% of total industrial production value and 20-25% of total export turnover of the city.

With this, each year, some 200 businesses will enjoy incentives from the city.

Specifically, businesses will promote their brands in domestic and foreign markets, apply advanced technology and equipment into production, improve capacity and international integration, and remove difficulties in production and business.

By 2025, the city will set up some large-scale industrial product manufacturers with international competitiveness joining global production and supply chains. They are also to act as a driving force for the city’s small- and medium-sized enterprises in the same field.

Aiming to achieve the target, Hanoi has realized such contents as: selecting key industrial products; intensifying trade promotion, investment and support for key industrial products manufacturers; improving business and investment climate; and assisting them to develop science and technology and human resources.

The hub has issued a plan to realize a project of developing key industrial products in the 2021-2025 period with a total estimated budget of VND200 billion.

In 2018, Hanoi recognised 61 key industrial products and top 10 ones. The total revenue from the 61 products reached VND40 trillion, up 28.4% annually, accounting for 32.5% of the total industrial production. Exports surged 74% to upwards VND10 trillion./.

BTA