New step
Trade promotion has become an important pillar in Vietnam's supporting industry development strategy. This year, a series of international events, exhibitions and seminars were held to strengthen the connection between domestic enterprises and multinational corporations, expand export markets and enhance the position of Vietnam's supporting industry.
One of the highlights is the Vietnam Supporting Industry Products Exhibition 2024, attracting the participation of more than 900 enterprises from 20 countries and territories. This is not only a playground for Vietnamese enterprises to introduce their products, but also an opportunity to learn from experience, improve production standards and expand international cooperation networks. The products displayed at the exhibition have shown remarkable advances in technology, from precision mechanical components to automation solutions and smart technology.
In parallel, trade connection programs are regularly organized, such as the ASEAN-Vietnam Supporting Industry Promotion Forum. This event has helped create a bridge between Vietnamese enterprises and large corporations in the region such as Samsung, LG, Panasonic and Toyota. This is not only an opportunity for Vietnamese enterprises to learn, but also helps increase the localization rate in the global supply chain.
Policy driven
Trade promotion activities in 2024 will be strongly promoted thanks to support from the Government and relevant agencies. Many preferential policies and support mechanisms have been issued to encourage businesses to participate in trade promotion activities.
The Ministry of Industry and Trade has implemented a program to support small and medium-sized enterprises in the supporting industry, focusing on reducing exhibition participation costs, consulting on export strategies, and training human resources. Localities such as Binh Duong, Bac Ninh, and Dong Nai also organize many specialized seminars and exhibitions, creating favorable conditions for businesses to approach potential partners.
In particular, the implementation of the National Supporting Industry Development Program has helped domestic enterprises increase their competitiveness, thereby expanding export markets. Vietnamese supporting industry products have now appeared in the supply chains of many large corporations in the world, affirming the capacity and reputation of the industry.
Challenges and opportunities
Despite many achievements, the supporting industry still faces many challenges. Competition from FDI enterprises with superior resources and technology is creating great pressure on domestic enterprises. Many Vietnamese supporting industry enterprises still face difficulties in meeting international standards on quality, safety and environment.
However, these challenges are also opportunities for the Vietnamese supporting industry to make a breakthrough. With the support of trade promotion activities, Vietnamese enterprises can access and apply new technologies, thereby enhancing production capacity and improving product quality. International trade events not only bring business opportunities, but also help enterprises access global standards, broaden their vision and development orientation.
The year 2024 has witnessed a strong transformation of the Vietnamese supporting industry, with a focus on trade promotion activities. These efforts not only contribute to enhancing the industry's position in the international market, but also create a driving force for sustainable development for the Vietnamese economy. In the future, with support from the Government and other agencies, the supporting industry promises to continue to develop strongly, contributing positively to the prosperity of the country.
