Sufficient support industries would help Vietnam reduce its tradedeficit, attract more international companies and catch up with newbusiness trends, according to Vietnam Chamber of Commerce and Industrychairman Vu Tien Loc.
During the Vietnam Manufacture and Support Industries Forum,co-organised by the Hanoi Department of Industry and Trade, the JapanExternal Trade Organisation and Thailand 's Reed Tradex Co on Aug. 11in Hanoi , the chairman said that many foreign manufactures,especially Japanese ones, were currently seeking Vietnamese partsuppliers.
Some international support companies have hadthe tendency to shift their factories to countries with lower productioncosts. Vietnam could be a promising destination for supportindustry development amidst attractive investment conditions, Loc said.
Development could afford huge opportunities to local part producers infurther participating in the global production chain, he said, addingthat if firms could be made able to supply foreign companies inVietnam with parts, they could also be made able to supply companiesoutside of the country.
During the forum, FC Hoa LacTechnology Co deputy director Le Gia Bao outlined capital shortages,limited management capacities, insufficient technologies and a lack ofskilled workers as challenges facing Vietnamese small-sized supportindustry enterprises.
To overcome such challenges, firmswould have to further co-operate in fulfilling large contracts signedwith foreign companies rather than trying to reduce their prices to gainmore clients, he said.
"Price is not a decisive factor.Small businesses should join hands in meeting technical requirements setout by foreign clients while ensuring on schedule delivery," he noted.
Hitoyoshi Shii, an expert from the Japanese International CooperationAgency (JICA), suggested that domestic part producers further improvetheir management capacities and pay more attention to human resourcetraining.
Firms should also focus on machine maintenance,seeing as many have failed to upgrade their machinery due to inadequatefinances, he said./.
During the Vietnam Manufacture and Support Industries Forum,co-organised by the Hanoi Department of Industry and Trade, the JapanExternal Trade Organisation and Thailand 's Reed Tradex Co on Aug. 11in Hanoi , the chairman said that many foreign manufactures,especially Japanese ones, were currently seeking Vietnamese partsuppliers.
Some international support companies have hadthe tendency to shift their factories to countries with lower productioncosts. Vietnam could be a promising destination for supportindustry development amidst attractive investment conditions, Loc said.
Development could afford huge opportunities to local part producers infurther participating in the global production chain, he said, addingthat if firms could be made able to supply foreign companies inVietnam with parts, they could also be made able to supply companiesoutside of the country.
During the forum, FC Hoa LacTechnology Co deputy director Le Gia Bao outlined capital shortages,limited management capacities, insufficient technologies and a lack ofskilled workers as challenges facing Vietnamese small-sized supportindustry enterprises.
To overcome such challenges, firmswould have to further co-operate in fulfilling large contracts signedwith foreign companies rather than trying to reduce their prices to gainmore clients, he said.
"Price is not a decisive factor.Small businesses should join hands in meeting technical requirements setout by foreign clients while ensuring on schedule delivery," he noted.
Hitoyoshi Shii, an expert from the Japanese International CooperationAgency (JICA), suggested that domestic part producers further improvetheir management capacities and pay more attention to human resourcetraining.
Firms should also focus on machine maintenance,seeing as many have failed to upgrade their machinery due to inadequatefinances, he said./.
