Vietnamese firms remain weak in joining the global supply chains, with most of them relying on assembling and working as sub-contractors.

Deputy Director of the Ho Chi Minh City Department of Industry and Trade, Nguyen Phuong Dong, made the comment at a workshop in Ho Chi Minh City on April 22 that sought to help home businesses better access regional and global markets.

A lack of competitive edge, vision and strategy has been cited as the reason for their limited performance.

At present, some 300 domestic companies joining in the global supply chains are manufacturing alternative spare parts rather than main products. To improve this, the business community plans to build a material supply zone, renovate technology and form partnership with foreign partners.

Experts from multinational groups and members of the US – ASEAN Business Council (USABC) informed participants of import trends in the key markets of Japan , the US and China.

They also shared experiences on how to develop comparative advantages to reach out to more overseas markets.

Over 10 participating firms were shortlisted for the mentoring programme involving multinational conglomerates, all members of the US – ASEAN Business Alliance for Competitive Small and Medium-Sized Enterprises.

The event was co-hosted by the USABC, the Vietnam Chamber of Commerce and Industry and the United Nations Agency for International Development (which has funded the ASEAN Connectivity through Trade and Investment project).-VNA