This Law determines principles, regulations, and measures relating to the establishment, operations, and administration of industrial and handicrafts processing activities in order to expand the processing and handicrafts industry, interrelate the processing industry with agro-forestry, transform the natural economy of farmers into a goodsbased economy, interrelate the economic structures of the agro-forestry, industry and services to increase the living standards of the multiethnic people.
The State promotes all sectors of the economy to invest in industrial and handicrafts processing to produce consumer goods domestically to serve as import substitutes and to produce export goods by employing domestic raw materials, primarily: raw materials from agriculture and from forestry. Industrial and handicrafts processing operations must ensure environmental protection as provided for in the Law on Environmental Protection. The industry and handicrafts sector and the agro-forestry sector shall jointly issue a policy to promote and create a plan to encourage cultivation and animal husbandry by households, cooperatives, and other economic parties in order to supply raw materials to industrial and handicrafts processing factories as required.
The Law, among other things, further provides for the following: promotion capital and funds, tax and duty privileges, administrative and inspection agencies, dispute resolution.