Mechanical Engineering Sector Seeks Growth Direction

Mechanical engineering – machinery and equipment is a key industry, serving as the foundation, platform, and driving force for the industrial development of any nation, especially for a country in the process of accelerating industrialization and modernization. Currently, mechanical engineering is a sector included by the Government of Vietnam in the supporting industry development program and enjoys specific preferential policies. Vietnam has approximately 3,100 mechanical engineering manufacturing enterprises with 53,000 production facilities, accounting for nearly 30% of the total number of processing and manufacturing industrial enterprises. The domestic mechanical engineering – machinery and equipment sector has gradually mastered and improved the localization rate, creating momentum to promote the development of other industries and the economy, thereby directly and indirectly creating jobs for millions of workers…

Source: Industry and Trade Television