The manufacturing industry plays an important role as the backbone of the economy and a driving force for growth. (Photo: tinnhanhchungkhoan.vn)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
