Contents of the supporting Industry Development Program in Vietnam

What are the main contents of the supporting Industry Development Program in Vietnam? - Trung Kien (Quang Ngai, Vietnam)

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Contents of the supporting Industry Development Program in Vietnam (Internet image)

Regarding this issue, LawNet would like to answer as follows:

1. What is the supporting Industry Development Program?

According to Clause 5, Article 3 of Decree 111/2015/ND-CP, the supporting Industry Development Program is a set of contents, promotion activities, assistance activities in supporting industry development in order to promote to manufacture supporting industrial products.

In which, supporting industry means the industry that involves manufacturing materials, accessories, components and spare parts used for assembling finished goods.

(Clause 1, Article 3 of Decree 111/2015/ND-CP)

2. Contents of the supporting Industry Development Program in Vietnam

Specifically, in Clause 2, Article 10 of Decree 111/2015/ND-CP, the Supporting Industry Development Program has the following contents:

- Assist in improving enterprise competence: business administration, production management, connect supporting industrial product manufacturers with customers, supply products to multinational groups and other domestic and foreign supporting industrial manufacturers; promote consuming market;

- Support in training labor force to meet the needs of supporting industrial production;

- Assist in research and development, technology application and transfer and renovation in trail manufacturing of components, accessories and materials;

- Disseminate knowledge and information on policies, market and Vietnam’s supporting industry capability through various forms such as workshops, news, publications and advertisements posted on other mass media;

- Promote international cooperation and attract foreign investment in the supporting industry;

- Assist in setting up technical standards and specifications of supporting products on the List to comply with the international and regional standards;

- Create and update the database of domestic and foreign supporting industries on a dedicated supporting industry web portal.

3. Funds for the supporting Industry Development Program implementation in Vietnam

- Funds for the Program implementation at the central level shall come from the following sources:

+ State budget funds that are allocated annually under plans;

+ Funds and contributions from organizations and persons implementing supporting industry development activities;

+ Funds and contributions from organizations and individuals at home and abroad;

+ Other lawful funding sources as prescribed by law.

- Funds for the Program implementation at the local level shall come from the following sources:

+ State budget funds annually allocated to provincial-level People’s Committees;

+ Funds and contributions from organizations and persons implementing supporting industry development activities;

+ Funds and contributions from organizations and individuals at home and abroad;

+ Other lawful funding sources as prescribed by law.

(Clause 1, 2, Article 3 of Regulation issued together with Decision 10/2017/QD-TTg)

4. Principles of using funds to implement the Supporting Industry Development Program in Vietnam

According to Article 4 of Circular 29/2018/TT-BTC, the principles of using funds for the development of supporting industries include:

- Funding for the implementation of the central-level program to ensure supporting industry development activities is managed and organized by the Ministry of Industry and Trade for activities and tasks aimed at developing supporting industries in the province, regional and national scale have spillover effects, promoting the development of supporting industries.

Supporting industry activities according to regional, and national scales shall be prescribed by the Minister of Industry and Trade.

- Funding for the local implementation of the program to ensure the development of supporting industries, which is managed and implemented at the local level by the province's People's Committee in accordance with the local supporting industry development strategy and orientation in order to develop the local supporting industry.

- Organizations and individuals that use supporting industry development funds must do so for the right purposes, according to the regime, and be subject to the inspection and control of competent authorities; make settlement of used funds according to current regulations.

Tran Thanh Rin

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