According to a report from Vietnam's "Industry and Trade Electronic News" on August 18, the Ministry of Industry and Trade stated that Vietnam's industry has achieved strong development in recent years, but the added value of products is still very low. When assessing the impact of the new crown epidemic on Vietnam's industry, it is clear that the biggest weakness of the Vietnamese economy. The processing and manufacturing industries are weak in internal power, relying heavily on foreign supply chains, raw and auxiliary materials cannot be autonomous, and there are few industrial enterprises. There are only 80,000 processing and manufacturing enterprises in Vietnam, and their financial capabilities and technical levels are limited.

　　According to a report from the Ministry of Industry and Trade of Vietnam, Vietnam's telephone and electronics industries imported US$40 billion in electronic components in 2019, of which US$16.8 billion were imported from South Korea, US$13.8 billion from China, and US$1.7 billion from Japan. Imports of textiles, clothing and leather footwear industries: various types of cotton US$2.47 billion, yarns US$2.3 billion, cloth US$12.69 billion and other textile and leather shoe accessories US$5.61 billion, of which US$2.02 billion is imported from Korea and US$710 million in other raw materials Accessories. The auto assembly industry imported US$4 billion in spare parts, of which US$700 million was imported from China, US$1.14 billion from South Korea, and US$720 million from Japan.

　　 At present, the domestic added value of the two main export products of Vietnam's textile and apparel and electronic products is still very low, 50% and 37% respectively.

In order to continue to implement the government’s task of restructuring the economic structure in the industry and trade field, the Ministry of Industry and Trade of Vietnam will continue to effectively implement the "2020, looking forward to 2030, the industry and trade economic structure restructuring program and action plan for the realization of industrialization, modernization and sustainable development" "The Ministry of Industry and Trade of Vietnam will focus on areas with potential and advantages that enable Vietnamese industries to create higher added value, such as automobiles, textiles and footwear, electronics, minerals, and supporting industries.

The Ministry of Industry and Trade of Vietnam stated that it is necessary to coordinate the resources from the central to the local level and concentrate on the investment and development of industrial projects, especially supporting industries and important basic raw material industries (hot rolled steel, cloth, dyeing and finishing, new materials, etc.) to overcome Dependence on imported raw materials and spare parts. Strengthen preferential policies, support high-quality investment, and attract manufacturing (including the production of parts and accessories) from China and other countries to invest in Vietnam.

　　 The Ministry of Industry and Trade of Vietnam will formulate an action plan to implement Resolution 23/NQ-TW, and a plan for the economic restructuring of the industry and trade sector from 2021 to 2030, and submit it to the Prime Minister in 2020.