A number of industrial and agricultural product groups have been identified as the city’s key products in the 2018 – 2020 period, giving them special priorities in terms of growth promotion.

The key products were announced at a conference organised by the HCM City’s People’s Committee on Saturday.

Nguyen Thanh Phong, chairman of HCM City People’s Committee, said that identifying key products would be crucial for understanding the full picture of HCM City’s industrial and agriculture sectors, and serve as a basis for the city to focus its resources.

He urged departments to raise awareness of the products’ key status, linking them to the city’s campaign to encourage Vietnamese to use Vietnamese goods, and to work with firms on creating policies that would aid their growth.

Key industrial product groups include moulded metallic products such as high-precision moulds, steels and machine parts; electronic goods and cables; plastic and rubber; processed foodstuff; drinks; IT ; and clothing.

Medicines are classified as industrial product groups with high potential.

Key agriculture products groups are plants, animal husbandry and aquaculture, while ornamental fish is classified as an area with high potential.

The product groups were chosen due to their high general quality, added value and competitiveness (able to satisfy domestic and foreign market demands and compete with imported goods), and for their contribution to the city’s industry and agriculture.

The products use high technologies, are environmentally friendly, and are not plagued with intellectual property rights violations.

Speaking at the conference, Pham Thanh Kien, director of the city’s Department of Industry and Trade, said the department would focus on creating favourable policies for financial aid, and raising awareness of advanced technologies through conferences and fairs.

It will also consider land funds, workforce training, and trade promotion events.

Nguyen Phuoc Trung, director of the city’s Department of Agriculture and Rural Development, said the department would work on city plans for crop and animal farming, provide funding assistance for farmers, and work with other departments to facilitate brand building, productivity improvement, modern technology acquisition and workforce training.

Nguyen Phuoc Hung, deputy chairman of the HCM City Union of Business Association, noted that requirements for key product classification would serve as a great foundation for firms’ investment decisions.

Le Thanh Lam, general director of Saigon Food Joint Stock Company, agreed, saying that identification would help firms grow and compete against domestic and foreign rivals.

A representative of Dai Dung Metallic Manufacture Construction – Trade Corporation said the firm was pleased with its industry being a part of the key product groups and hoped to receive government help in accessing low-interest loans to invest in modern technologies and 4.0 tech.

The city’s Index of Industrial Production in 2017 grew by 7.9 per cent compared to 2016. — VNS