Vietnam in the global supply chain
In recent years, Vietnam has witnessed a significant increase in investment projects from the world's leading technology corporations such as NVIDIA, ASML, Amkor, and Seojin. These names not only bring investment capital but also open up opportunities for domestic businesses to participate more deeply in the global supply chain. However, reality shows that Vietnam's supporting industry has not developed commensurate with its potential, making its ability to participate in international supply chains limited.
According to experts, currently, domestic enterprises can only meet about 10-30% of the demand for components and spare parts for international corporations operating in Vietnam. This figure shows that, although Vietnam is becoming an attractive destination for manufacturing projects, the ability to localize and participate in the global supply chain is still quite limited.
Challenges of the supporting industry
One of the main reasons why Vietnam has not been able to fully take advantage of this opportunity is because the domestic supporting industry has not developed evenly and is not strong enough to meet the requirements of large corporations. Supporting industry enterprises are mainly small and medium enterprises, lacking capital, technology, and management capacity. Furthermore, the connection between domestic businesses and international corporations is still fragmented, lacking support mechanisms from the government to promote this cooperation.
In addition, domestic businesses still have difficulty accessing international standards for quality and safety, as well as the ability to promptly respond to large orders. This causes Vietnam to still have to import many components and spare parts from other countries to meet domestic production needs, leading to a reduction in the competitiveness of Vietnamese enterprises in the international market.
Necessary solution
To improve Vietnam's position in the global supply chain, experts say that stronger support policies from the government are needed. First, it is necessary to focus on developing supporting industries by building specialized industrial parks, creating favorable conditions for domestic businesses to access modern technology and international standards. At the same time, there needs to be financial policies to support small and medium-sized enterprises, helping them improve production capacity and management ability.
Besides, it is necessary to strengthen the connection between domestic businesses and international corporations. The government should play an intermediary role, creating favorable conditions for domestic businesses to participate in international supply chains, through organizing seminars, economic forums, and training programs. capacity enhancement.
Finally, there need to be measures to encourage domestic enterprises to promote research and development (R&D) activities, to improve product quality and meet the strict requirements of the international market. This is a key factor that helps Vietnam not only participate but also play a more important role in the global supply chain.
