Financial difficulties, raw materials are still dependent
Attending the 2023 Da Nang City Supporting Industry and Manufacturing Fair, Mr. Tran Quoc Toan - Director of Da Nang Technical Equipment Co., Ltd. - said that in the past, people who wanted to use supporting equipment for ships had to import goods from Europe, Australia, Japan, China... but now, domestic enterprises have access to manufacturing technologies. Some products that Vietnamese enterprises have manufactured have helped reduce costs significantly.
However, in reality, although Vietnam’s industry is relatively developed, raw materials are a limitation. Because most of the raw materials of the industry today must be imported from China or some neighboring countries. Domestic raw materials and accessories have not kept up with the development of processing and manufacturing enterprises.
As a product of Mr. Toan's business, domestic materials account for 60% to 70%. To overcome this, it will take time. When orders from businesses increase and domestic demand increases, import businesses will certainly start to invest in increasing raw materials for production.
In addition, another difficulty for businesses in general and the manufacturing industry in particular is finance. Bank interest rates are still a matter of concern for many businesses.
“Recently, with rising interest rates and inflation, businesses have faced high management costs, including interest rates. This year, we planned to expand our market in Cambodia, but due to economic difficulties and unsafe cost calculations, we had to put it on hold. We hope that the Government will have more suitable policies to support manufacturing businesses, so that they can access more preferential capital sources, and support business development," said Mr. Toan.
Vietnamese component brands are not yet impressive with international partners
Also attending the fair, Ms. Truong Minh Trang - Echigo Vietnam Joint Stock Company - said that the unit produces plastic injection molds, is supplying to Canon Vietnam, a partner in Hong Kong (China) and has just been granted the TTI supplier code of the United States.
In the process of bringing products to the international consumer market, one problem that businesses realize is that not all Vietnamese companies invest properly and foreign customers and partners do not have an impression of our country's supporting, processing and manufacturing industry products.
“They still think that Vietnam is a small country, without many high-quality products to supply to the global market, so they will not be interested from the beginning. To overcome these difficulties, Vietnamese enterprises need to focus on production technology, quality of human resource training and product quality. With these three things, partners around the world will gradually pay attention to the enterprise.
In particular, when products are released to the international market, depending on the customer, the global supply chain requires ISO 9001 quality certification and ISO 14001 environmental certification as a minimum to "enter the door". In addition, product prices must also be reasonable to compete with other businesses and new partners interested in long-term orders" - Ms. Trang shared.
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