Ministry of Industry (MOI) recently submitted a proposal listing eleven key industries that should developed during 2006–2010 period and towards year 2020 as well as incentive policies, to the Government.
These industries include textile and garment; footwear; plastic; handicrafts; woodworks; processing agriculture, forestry and fishery products; steel; mining, process bauxites and aluminum; chemical; mechanics; electronic equipments; telecommunication and information technology; and products from new technologies.
In regard to incentives applied for these industries, a part from the common policies, these industries would enjoy many others like priority to use state budget, state credit and ODA funds for projects on developing materials areas for local production.
For special projects, the Government would guarantee borrow money from foreign organizations for implementation.
As for textile and garment industry, MOI proposed a discount of five percent tax on buying cotton from local farmers.
Fibre2fashion, News Desk - Vietnam
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