Deputy PM Nguyen Chi Dung said Vietnam boasts advantages for developing the AI and semiconductor industries, noting that the country already has a relatively strong ecosystem for the sector.
During a dialogue with Chinese companies in Hanoi on 28 February, Prime Minister Pham Minh Chinh encouraged them to enhance technology transfer, enabling Vietnamese enterprises to integrate into the global value chain and expand their investment opportunities.
Minister of Planning and Investment Nguyen Chi Dung, who is also deputy head of the National Steering Committee for Semiconductor Industry Development, emphasised that the committee will continue to settle difficulties and bottlenecks to turn the semiconductor industry into a major driver of Vietnam’s growth in the new era.
Although there are many opportunities to participate in the global value chain through supplying products and components to large foreign corporations investing in Vietnam, the reality is that too few Vietnamese companies have taken advantage of this opportunity.
Vietnam is looking into developing an ecosystem to enhance connections between Vietnamese enterprises and other countries in order to further take advantage of free trade agreements (FTAs), including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), participants heard in a seminar in Hanoi on October 2.
Vietnam is discussing the establishment of a centre for raw materials to support the textile, leather and footwear industries, signalling a bold effort for the billion-US-dollar sectors to enhance sustainability and climb higher up the global value chain.
Actively creating opportunities for investors instead of just waiting for them is among the contents in the central province of Quang Nam’s plan to seek high-quality investors and enhance the locality’s capacity to absorb investment through proper mechanisms and policies in the 2024-2025 period.
Being the largest trade partner of Canada in ASEAN, with two-way trade topping 7 billion USD in 2022, Vietnam will play an important role as a gateway for Canadian firms to enter the region bloc that has one of the highest growth rates in the world and is expected to be the world’s consumption centre by 2030 given its market size, according to Canadian business insiders.
Enhancing national competitiveness and capacity of domestic enterprises is vital for Vietnam to climb up the global value chain in the new context of globalisation, heard a workshop held by the Vietnam Institute for Economic and Policy Research (VEPR) in Hanoi on December 5.
The development of logistics infrastructure, improvement of loading and storage capacity, and formation of a regional – level logistics service centre will help Vietnam better embrace the upcoming global supply chain shifts, experts said at a logistics forum held by the Ho Chi Minh City Logistics Association (HLA) in the city on November 29.
The attraction of large foreign direct investment (FDI) inflows from the US and Europe, especially into industries with high added value such as manufacturing, technology and pharmaceuticals, is a positive signal about Vietnam’s economic development and international cooperation as well as the country's efforts in improving its position on the global value chain, according to Savills Vietnam experts.
The strong growth in automobile sales and the increase of locally-assembled auto models are a lever to further promote Vietnam's auto industry, helping it gradually engage in supply chains of leading automobile manufacturers.
Vietnam, like many other East and Southeast Asian countries, is further climbing up the global value chain (GVC) thanks to the positive effect of the utilisation of foreign direct investment (FDI), according to the latest report by Hinrich Foundation.
Bilateral and multilateral free trade agreements (FTAs), including the Regional Comprehensive Economic Partnership (RCEP) which took effect from January 1, are expected to become a new momentum promoting Vietnam's economic growth in 2022.
The investment in the industrial sector and support industries in Ho Chi Minh City needs consultancy from the social community, heard an international workshop on December 24.
The growth of processed seafood output in Vietnam will reach over 6 percent a year by 2030 under a national seafood processing development strategy for 2021-2030 which has been approved by the Prime Minister.
Deeper integration into the global value chain while developing an increasingly independent and self-controlled economy are both a requirement and a solution to help Vietnam overcome the challenges to realise its goal of rapid and sustainable development, according to Party Central Committee and Minister of Industry and Trade Tran Tuan Anh.
Enhancing exports via Amazon, the world’s largest Internet retailer by revenue and market capitalisation, is an effective way to help staples of the Central Highlands province of Dak Lak reach out to the world in the context that COVID-19 continues to wreak havoc on global economy, according to insiders.
