Financial Policy on Promotion of Supporting Industries for Vietnam: Reality and Recommendation

Authors

  • Nguyen Ba Minh Institute of Economics and Finance, Academy of Finance, Vietnam
  • Le Vu Thanh Tam Institute of Economics and Finance, Academy of Finance, Vietnam

DOI:

https://doi.org/10.14738/abr.108.12693

Keywords:

supporting industries, financial policy, promotion, Vietnam

Abstract

This study aims at analyzing aspects determining supporting industries (SIs) to serve the task of developing such industries. Analyses show that though Vietnamese SIs have obtained considerable improvements related to the scale and effect in recent years, these progresses are still modest and unable to help the manufacturing sector increase its added value and join the global value chain. The results find the following culprits: the financial policies on SI development are not compatible with main trends of market specialization and global value chain; chain of domestic industrial production is till lacking; and inter-industry cooperation is poor. Policy recommendations, therefore, are as follows: establishing the legal infrastructure for SI development, design of a value chain for SIs, building of clusters of SIs, and mechanism for promoting SI development.

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Published

2022-08-29

How to Cite

Minh, N. B., & Tam, L. V. T. (2022). Financial Policy on Promotion of Supporting Industries for Vietnam: Reality and Recommendation. Archives of Business Research, 10(8), 175–185. https://doi.org/10.14738/abr.108.12693

Issue

Vol. 10 No. 8 (2022): Archives of Business Research

Section

Articles

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Copyright (c) 2022 Nguyen Ba Minh, Le Vu Thanh Tam

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This work is licensed under a Creative Commons Attribution 4.0 International License.