Vietnam is told to promote the research and manufacturing of weapons.
Vietnam’s Prime Minister Nguyen Xuan Phuc has asked the armed forces to enhance cooperation with foreign partners in research, manufacturing, and sales of military weapons.
The authorized forces need to promote the research and manufacturing of weapons by using modern technologies and boost the export of weapons, the Government Portal quoted PM Phuc as saying.
Vietnam’s Prime Minister Nguyen Xuan Phuc
The authorities need to prioritize manpower training to make breakthroughs in the defense industry, Phuc said at a meeting on June 3 with the presence of Minister of Defense Ngo Xuan Lich and Minister of Public Security To Lam.
In the 2020 Military Strength Ranking released by the US-based Global Firepower, Vietnam has jumped one spot to 22nd out of 138 countries and territories.
According to ICD Research, Vietnam’s domestic defense production capabilities are relatively underdeveloped, because of which the country relies on foreign original equipment manufacturers (OEMs) to fulfill its military requirements.
OEMs venture into the market through government to government deals and direct commercial sales.
The country’s defense industry is largely dominated by Russian defense equipment suppliers, but American and European suppliers have recently entered Vietnam’s defense market through the direct commercial sale of advanced defense systems. Moreover, Vietnam prefers government to government deals in procuring defense systems.
In its White Paper released in 2019, Vietnam reveals spending for defense accounted for 2.23% of GDP in 2010, 2.82% in 2011, 2.88% in 2012, 2.51% in 2017, and 2.36% in 2018.
This story was originally posted on Hanoi Times