The Ministry of Industry has submitted to the Government a list of 11 spearhead industries and policies to encourage their development from now until 2010.
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The Ministry of Industry has submitted to the Government a list of 11 spearhead industries and policies to encourage their development from now until 2010.
These are textiles and garment and leather shoe; plastic; small-scaled industry and woodwork; agro-forestry and seafood processing; steel; aluminium bauxite exploitation and processing; chemicals; engineering; information technology, telecommunications and electronic equipment; and new hi-tech products.
These industries will receive the State budget or credits as well as official development assistance (ODA) capital for developing their own material areas. Special projects with Governments approval will be assisted by the State to borrow foreign loans.
The State will directly invest in a number of key national projects, create a stable credits mechanism for other projects and issue government bonds when necessary. The State will also finance part of environmental protection projects at production establishments.
In particular, the State will provide a number of manufactures of key industries with budget to conduct research on and produce products in experimental period. They will also receive finance for their technology incubators and application of new technologies.
(Source: VNA)
