AsemconnectVietnam - The Key Industries Law is expected to help Vietnam achieve its goal of becoming a strong, sustainably developing economy with a modern industrial sector.

Improving the institutional framework with two main policy pillars
In the context of increasingly fierce global competition, rapid scientific and technological development, and the restructuring of global supply chains, the development of a separate law on key industries is considered an urgent requirement. In response to this situation, the Government issued Resolution No. 82/NQ-CP on the adoption of the Policy of the Key Industries Law. The Government's Resolution clearly affirms the necessity of institutionalizing the Party's guidelines and viewpoints on industrial development, especially the orientation towards building an independent, self-reliant, and strong industrial base.
The Law on Key Industries is expected to create a comprehensive legal framework that will help promote advantageous industries with high spillover effects, acting as a "driving force" in economic growth. At the same time, the law aims at the long-term goal of transforming Vietnam into a modern, high-income industrialized country under a socialist orientation.
Notably, the approach to drafting the law goes beyond simply improving existing mechanisms and policies; it also addresses fundamental bottlenecks in industrial development. The focus is on shifting the growth model from extensive to intensive, from processing and assembly to research, design, and production with high technological and knowledge content.
The Law on Key Industries is expected to create a comprehensive legal framework that will help promote advantageous industries with high spillover effects, acting as a "driving force" in economic growth. At the same time, the law also aims at the long-term goal of transforming Vietnam into a modern, high-income industrialized country under a socialist orientation.
According to the content approved by the Government, the Law on Key Industries will focus on two major policy groups proposed by the Ministry of Industry and Trade.
Firstly, policies to encourage domestic production and manufacturing of key industrial products. This is considered a pillar to enhance the endogenous capacity of the economy, reduce dependence on imports, and gradually master technology. Promoting domestic production not only helps increase added value but also creates a foundation for the development of fundamental industries such as mechanical engineering, electronics, and new materials…
Secondly, policies to develop supporting industries, considered the “backbone” of modern industry. The development of supporting industries will help increase the localization rate, reduce production costs, and increase the participation of Vietnamese businesses in global supply chains.
These two policies are closely related and complementary, forming a complete industrial ecosystem. In this ecosystem, supporting industries play the role of supplying components and materials, while manufacturing creates the final, high-value products.
Prioritizing resources for the development of foundational industries
The policy of developing the Law on Key Industries is also placed within the overall implementation of Resolution 29-NQ/TW on continuing to promote industrialization and modernization of the country. This resolution clearly identifies the need to prioritize resources for the development of foundational industries, key industries, and supporting industries, while simultaneously perfecting the specialized legal system.
Resolution 82/NQ-CP assigns the Ministry of Industry and Trade to lead and coordinate with relevant ministries and agencies to finalize the policy dossier and organize the drafting of the Law on Key Industries project for submission to the Government as prescribed. During this process, the incorporation of feedback from National Assembly agencies, ensuring no overlap with existing regulations and compliance with international commitments, was particularly emphasized.
The Head of the Industry Department (Ministry of Industry and Trade) informed that the main contents proposed by the Ministry of Industry and Trade in the Law on Key Industries will focus on incentives for key industrial projects to enhance competitiveness through industry linkages and improve production quality, promoting leading industries and potential enterprises; issuing special policies in the development of key industries; and sustainable development.
After finalizing the policy document, the Ministry of Industry and Trade will continue to draft the Law on Key Industries for submission to the Government for consideration. This process will fully incorporate feedback from National Assembly agencies to ensure that specific policies are designed within the proper authority, do not overlap, and are consistent with international practices.
With the expectation of creating institutional breakthroughs, the Law on Key Industries is not only a legal tool but also a strategic lever to help Vietnam break through in the new development phase, aiming to become a modern, high-income industrial nation in the future.
It is clear that the adoption of the policy to develop a Law on Key Industries is not only a technical step in perfecting the legal framework but also has strategic significance for the development of the economy. This is expected to be an important "lever" to help Vietnam overcome current limitations, take advantage of opportunities from international integration and the fourth industrial revolution.
CK
Source: VITIC/congthuong.vn