Industry and Commerce Visualizes Modernizing Industry, Commerce, Production, Services
The vision of the Ministry of Industry and Commerce devised for 2030 has placed a focus on modernizing industry, commerce, production, and services and ensuring that they are integrated into international production chains in line with green and sustainable trends. Goals expressed in Vision 2030 include increasing the share of exports from the processing industry to 50% by 2020, 55% by 2025, and 65% by 2030. It also wants to see the share national gross domestic product (GDP) of the processing industry and commerce to increase to 33% in 2020, 35% in 2025 and 37% five years later.
The ministry says in its vision that the 2030 target is to ensure that commerce in the country is open and market oriented, rule based, and in line with the ASEAN Community Vision and World Trade Organisation’s framework. Although production in the country is diverse, the vision is to see some businesses in the agro processing industry turned into transnational corporations with strong business networks.
The vision is also designed to promote the consumption of goods and services as a national economic driver with the processing industries of agriculture, timber, rubber, textiles and garments, automotive assembly, and electronics actively integrated into the ASEAN supply and value added chains while tapping incentives arising from trade negotiations under the ASEAN and WTO frameworks.
The ministry said in a recent report that goods and services of main industries including hydropower, agro processing, construction materials and services are gaining stronger status and contributing to modernization and industrialization as well as sustainable and environmentally friendly production.