Further study of priority chemical sub-sectors into investment incentive projects

Research and propose the addition of priority chemical sub-sectors to the target group of investment incentive projects with the content mentioned Decision 726/QĐ-TTg on June 16, 2022, the Vietnam Chemical Industry Development Strategy to 2030 with a vision to 2040 was approved.

Further study of priority chemical sub-sectors into investment incentive projects (Illustration)

According to this Decision, the Prime Minister requested the Ministry of Planning and Investment to assume the prime responsibility for, and coordinate with the Ministry of Industry and Trade and the Ministry of Finance in, developing policies to enhance the ability to attract investment in the development of the chemical industry; balancing short-term and long-term investment capital for industrial development.

To study and propose amendments to regulations on investment in the direction of adding priority chemical sub-sectors to the target group of investment incentive projects; to formulate policies to encourage the development of specialized industrial parks.

Chemical sub-sectors include: Basic chemicals; Petrochemicals; Rubber products; Pharmaceutical chemicals; Fertilizers; Plant protection chemicals; Paints - printing inks;...

At the same time, the Ministry of Finance shall assume the prime responsibility for, and coordinate with relevant ministries and branches in, studying, proposing amendments and supplements to financial policies to encourage the development of priority chemical industries in line with the process of international economic integration.

The Ministry of Science and Technology shall assume the prime responsibility for, and coordinate with the Ministry of Planning and Investment and the Ministry of Industry and Trade in, implementing scientific and technological solutions to improve the high technology content of Vietnam's chemical products; formulating policies for technological innovation and application; and assessing the level of technology.

Promote research and development of chemical production technologies suitable to Vietnam's conditions for effective use of natural resources, towards green growth and circular economy; coordinate with the Ministry of Industry and Trade and concerned ministries and sectors to complete the national system of standards and technical regulations for the chemical sector.

See also Decision 726/QD-TTg issued on June 16, 2022.

Chi Nhan

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