The COVID-19 pandemic is highlighting the urgent need for promoting the development of part-supply industries to enable enterprises to be more resilient to shocks or disruptions to global supply chains.
Automobile sales in Vietnam are forecast to reach 1 million units a year by 2025, opening up substantial opportunities for businesses to develop a supporting industry for the sector.
The Vietnam Association for Supporting Industries (VASI) and the US Agency for International Development (USAID) teamed up to organise the Manufacturing Match Making Event 2020 in Hanoi on July 23.
Foreign direct investment (FDI) into electronics should aim to promote local companies and enable them to engage in the global value chain, industry insiders have said.
The Ministry of Industry and Trade (MoIT) in collaboration with the Vietnam Association for Supporting Industries (VASI) on October 2 organised a conference in Montreal, Canada, to seek business cooperation in supporting industry between Vietnam and Quebec province.
The 16th International Autotech & Accessories Show 2019, themed “Autotech – Automation”, will take place in Hanoi from September 4 – 7 with nearly 200 pavilions.
Many Vietnamese companies in supporting industries that can produce high-quality parts are nevertheless struggling to enter large international supply chains or are only able to supply low-value items to them.
A complex intended to connect Japanese and Vietnamese firms involved in supporting industries will be developed in the Hanoi Southern Supporting Industrial Park (HANSSIP).
Participating in global value chains is an inevitable step towards building and developing brands, as well as gaining a firm foothold on the world market, said Le Hoang Tai, deputy head of the Trade Promotion Agency, at an investment promotion workshop in Hanoi on April 11.
Only about 300 of the over 1,800 businesses working in supporting industries in Vietnam have joined production chains of multinational enterprises, a figure described by analysts as too modest.
Thirty-two Vietnamese busineses operating in the field of mechanical manufacturing and supporting industries have participated in the 22nd Mechanical Components & Materials Technology Expo (M-Tech 2018) that opened in Tokyo, Japan, on June 20.
Supporting industry development will create a driving force for Vietnam’s automobile industry, as heard a seminar held by the Vietnam Association of Supporting Industries on May 24.
Vietnam’s electronics enterprises should enhance linkages and increase productivity if they want to grow sustainably and integrate more deeply into the global supply chain, experts said.
The Vietnam Association of Supporting Industries was officially established in Hanoi on March 18 with a view to contributing to relevant policy planning and connecting domestic and foreign markets.
Business
