The Business Association of High Quality Vietnam Products Companies signed a memorandum of understanding with the Singapore Management University on March 10 in HCM City (Photo: VNA) HCM City (VNA) - Companies thatwant to enter the global supply chain should show initiative and make concertedsteps to enhance their capacity and growth, Dr Shantanaru Bhattacharya ofSingapore Management University said at a forum held in HCM City on March 10.
“They should not passively wait for thegovernment to help their growth,” he said.
Bhattacharya spoke at a seminar on the global supply chain held by the BusinessAssociation of High-Quality Vietnam Product Companies.
“Vietnam is perfectly positioned to be the next manufacturing hub in Asia,” hesaid, adding that the country has a huge advantage in location and cost as wellas human capital.
However, the training level of the workforceremains at a basic level, and employees lack the skills to quickly adapt towork, he added.
Both Vietnamese and foreign employers have hadto spend more capital to retrain their employees, he said.
Small- and medium-size enterprises, whichaccount for large proportion of businesses in Vietnam, have also faceddifficulties accessing domestic and foreign finance.
He said the Vietnamese government should createstable policies to develop the manufacturing economy.
Zulkifli Bin Baharudin, executive chairman atIndo Trans Logistics Corp in HCM City, said that many Vietnamese were not goodat teamwork.
However, team skills help companies improve, which, in turn, makes it easier toenter the global supply chain.
Many Vietnamese enterprises represent only a small part of the global supplychain, according to a representative of Vietnam Supply Chain.
For example, in the garment sector, localcompanies’ contracts are primarily for sewing and cutting designs for theirpartners, she said.
If employees have higher skills, companies can more easily move up the globalsupply chain, she added.
At the forum, the Business Association of High Quality Vietnam ProductsCompanies signed a memorandum of understanding with the Singapore ManagementUniversity to provide a general non-binding framework of collaboration betweenthe parties.
Cooperation will include management practice in Vietnamand the Mekong Delta region, and assistance in research and exchange ofacademic publications and information.
The partners will also engage in joint researchprojects and academic activities.-VNA
VNA
