Business

Increasing capacity of suppliers in processing-manufacturing chain

Enterprises must improve the quality and quantity of domestic tier-1 and tier-2 suppliers, to increase their ability to participate in the supply chain and improve the localisation of domestic industrial products.
Increasing capacity of suppliers in processing-manufacturing chain ảnh 1The manufacturing industry plays an important role as the backbone of the economy and a driving force for growth. (Photo: tinnhanhchungkhoan.vn)
Hanoi (VNS/VNA) - Enterprises must improve the quality and quantity ofdomestic tier-1 and tier-2 suppliers, to increase their ability to participatein the supply chain and improve the localisation of domestic industrialproducts.

This is the opinion of experts who gathered at a workshop to further developlinks between Vietnamese enterprises and multinational companies in themanufacturing industry.

The workshop was coordinated by the Vietnam Trade Promotion Agency (Vietrade)under the Ministry of Industry and Trade, in cooperation with the ASEAN - JapanCentre (AJC). It was held in Hanoi on March 7.

Vietnam is considered an emerging country with fast economic growth both in theregion and the world. The country had a preliminary average annual economicgrowth of 5.95 per cent in the period 2011- 2020.

The achievements of industrialisation and modernisation have created a greatfoundation for socio-economic development, in which the manufacturing industryplays a particularly important role as the backbone of the economy and thedriving force for growth in the country.

The manufacturing industry also attracts a large amount of foreign investmentcapital (FDI), which usually accounts for the highest proportion in terms ofthe number of projects and registered capital in the period 2011-2020.

Truong Chi Binh, vice president and general secretary of the VietnamAssociation For Supporting Industries, said that the Government, localities andmany other organisations have supported the processing and manufacturingindustry, promoting the development of enterprises and connected domestic andforeign enterprises.

However, the requirements of FDI enterprises on suppliers mainly revolve aroundquality, price, delivery time and technological factors.

The issue of price and management of Vietnamese enterprises was still notcompetitive compared with Chinese and Thai enterprises, said Binh.

Therefore, to help Vietnamese businesses participate more deeply in the supplychain of FDI, it is necessary to support them in improving their capacitythrough policies that encourage digital transformation and investment inelectronic production, added Binh.

"We still do not have a strategy, specific mechanisms or policies for theelectronics sector. Electronics is a matter of the future. It is necessary toencourage FDI enterprises to localise policies on tax and labour, to attractFDI with a clear orientation on localisation," she recommended./.
VNA
#industrial products #Vietrade #ASEAN - Japan Centre #Vietnam #VietnamPlus #Vietnam news
Follow VietnamPlus

Related News

Vietnam sustains stature as global manufacturing hub: Taiwanese media

Vietnam sustains stature as global manufacturing hub: Taiwanese media

An article recently posted on digitimes.com.tw, a media outlet of Taiwan (China), has said despite a year full of challenges in 2021, the Vietnamese economy has not been hampered by supply chains disruptions but sustains its positive outlook and stature as a global manufacturing hub in 2022.
Samsung Electronics not to move manufacturing base to RoK

Samsung Electronics not to move manufacturing base to RoK

Samsung Electronics has confirmed that it has relocated two smartphone production lines of its business partners from Vietnam's northern Thai Nguyen province to its Gumi plant in North Gyeongsang province of the Republic of Korea (RoK).

See more

Vietnamese Ambassador to the Republic of Korea Vu Ho speaks at the forum.(Photo: VNA)

Forum promotes Vietnam–RoK supply chain connectivity

Cao Thi Phi Van, Deputy Director of ITPC, said that after more than three decades of cooperation, Vietnam–RoK ties are shifting from traditional manufacturing cooperation towards mastering future-oriented technologies such as semiconductors, artificial intelligence (AI), digital finance, renewable energy and global supply chains.

Fitch Ratings gives positive assessment of Vietnam’s economic fundamentals (Illustrative image. Source: VNA)

Fitch Ratings gives positive assessment of Vietnam’s economic fundamentals

Deputy Minister Tran Quoc Phuong stressed that Fitch’s credit assessments have enhanced Vietnam’s image and credibility in international financial markets, and provided additional motivation for the country to continue improving institutions, strengthening policy management efficiency and increasing economic transparency.

Consumer purchases E10 biofuel at a PVOIL petrol station on Thai Thinh street in Hanoi. (Photo: VNA)

Hanoi strengthens oversight of transition to E10 biofuel

To ensure compliance with the transition roadmap, the Hanoi Market Surveillance Sub-Department has requested petrol traders to proactively review and upgrade storage tanks, fuel pumps and other technical conditions necessary for E10 distribution, thereby preventing disruptions to fuel supply serving consumption and production demands across the capital.

A Phu Tho civil servant guides a local how to switch from presumptive tax mechanism to tax sef-declaration. (Photo: VNA)

📝OP-ED: Vietnam’s tax reform: Fair play, not revenue squeeze

At a time when social media disinformation grows more sophisticated, transparency and public disclosure are the most potent counter to distortions. Facts, data and real-world results deliver the strongest rebuttal to attempts that twist reality and erode trust in tax administration reform.

Experts are expected to analyse opportunities for boosting exports and investment cooperation between Vietnam and South American countries at the coming seminar. (Illustrative photo: VNA)

Seminar on trade promotion in South American market to take place in Hanoi

A seminar on opportunities and challenges in developing the South American market will be held in Hanoi on May 28. It aims to provide updates on the economic outlook, market trends and import demand in South America, particularly in Argentina and Chile, amid continued fluctuations in global supply chains.

A view of the second Asia Agri Food International 2026 in Ho Chi Minh City on May 19 (Photo: VNA)

India pushes stronger agri-food cooperation with Vietnam

Experts noted that Vietnam has established itself as one of Southeast Asia’s leading agricultural product exporters, while India remains a major global supplier of agricultural and food products. By combining India’s production capacity and technological strengths with Vietnam’s dynamic processing and export ecosystem, the two countries can build more resilient supply chains in the region.

A panel discussion at the Meet Australia 2026 programme on May 19 (Photo: VNA)

Meet Australia 2026 promotes sustainable partnership opportunities

Meet Australia 2026 is not only a trade and investment promotion event but also a forum connecting trust, vision and action between Vietnam and Australia, as well as between national-level cooperation orientations and development needs of localities and businesses from both countries.

A customer purchases E10 biofuel petrol at a PVOIL station on Thai Thinh street in Hanoi. (Photo: VNA)

Authorities ordered to closely monitor rollout of E10 biofuel from June 1

According to the agency, the move is aimed at ensuring the effective and synchronised implementation of the E10 transition roadmap under Circular No. 50/2025/TT-BCT, issued by the Ministry of Industry and Trade on November 7, 2025. The plan seeks to avoid delays or supply disruptions that could affect the domestic fuel market.