Enterprises need synchronous coordination between agencies and sectors to seek and expand output markets for processed and manufactured industrial products.
Having a raw material trading center is necessary.
Some enterprises in the processing and manufacturing industry said that the biggest difficulty for enterprises today is still finding and expanding the output market for products. A survey by the General Statistics Office based on responses from more than 6,100 enterprises in the processing and manufacturing industry showed that, as of the third quarter of 2024, 53% of enterprises faced difficulties due to low domestic market demand; 50.6% of enterprises faced difficulties due to increasing competition from domestic goods and 31.6% of enterprises faced difficulties due to the fact that demand for goods in international markets had not yet fully recovered.
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| The biggest difficulty facing processing and manufacturing enterprises today is still finding and expanding output markets for their products. Photo: Qui Phuc |
Explaining the current difficulties for businesses in the industry in finding and expanding markets, economic expert, Dr. Nguyen Minh Phong said that, in general, one of the difficulties and challenges that businesses in general, and processing and manufacturing businesses in particular, are facing is geopolitical tensions, increasing competition between major countries, and the slow recovery of major trading partners; risks of disruption to the global supply chain, production chain, and high freight rates directly impact import and export activities and Vietnam's highly open economy.
"Import-export activities continue to depend on a number of markets, goods and FDI sectors. Many of Vietnam's export markets continue to increase new requirements for international trade, establish more dense market barriers, increase trade protectionism, green transformation, focus on health protection products, organic products, energy conversion factors, sustainable development..." - said economist Nguyen Minh Phong.
In particular, recently, major footwear importing countries have continuously put forward new requirements for the import of products with increasingly high social and environmental responsibility. Typically, the US has recently issued a policy allowing the application of cross-border subsidy investigations. This policy targets processing industries and many input materials.
Notably, not only the US, but also the EU is researching and implementing this policy. Therefore, Mr. Phong believes that having a raw material trading center is necessary for businesses to diversify their input materials, to avoid being dependent on one market.
In addition, the trend of attracting foreign direct investment (FDI) in the world is changing towards investing in high technology, core technology, based on investment efficiency instead of profits as before. "This context and shift are opening up many opportunities and challenges for each country to attract FDI in particular and develop the processing and manufacturing industry in general," said Mr. Phong.
Strengthening linkages between production chains and value chains
To keep up with changes and adapt to the shift of the global supply chain, expert Nguyen Minh Phong recommends that in the coming time, processing and manufacturing enterprises need to know how to take advantage of and proactively adapt to the development trend of the digital technology revolution and the 4.0 industrial revolution. Because this is a mandatory trend, processing and manufacturing enterprises need to build and implement comprehensive strategies, especially focusing on developing, innovating, and applying digital technologies and must be associated with digital transformation activities - considering it as the path to lead, create value, and target future growth.
Along with strengthening the connection between localities and regions to shift the structure of the processing and manufacturing industry towards increasing value and intelligence, Vietnamese enterprises also need to actively participate in programs to develop suppliers, provide professional training, and improve technology.
In addition, it is necessary to develop supply chains and domestic supporting enterprise capacity to increase the linkage between local enterprises and FDI enterprises. In particular, green industrial parks will be increasingly important to attract FDI in high-tech industries.
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| Experts say that businesses need to strengthen links and business cooperation to develop production chains and value chains. Photo: Qui Phuc |
To find output markets and contribute to increasing order volume, General Director of the General Statistics Office Nguyen Thi Huong said that, according to the recommendations of the business community, the State needs to continue to have measures to stimulate domestic demand to support businesses in finding effective partners to consume their products.
In addition, businesses also recommend that the Government, ministries, sectors and localities need to strengthen trade promotion, find new markets and new partners to support businesses in increasing the consumption of goods in domestic and foreign markets; continue to reform administrative procedures so that waiting time and implementation of administrative procedures of businesses are shortened to the maximum.
According to Ms. Huong, the mechanism and policies to support businesses in stabilizing and developing production are also very important. Accordingly, businesses expect banks to continue to simplify and reduce procedures and conditions for loans and to be supported in completing loan applications faster so that businesses can have capital for production and business more promptly and effectively.
According to experts, to overcome difficulties and create momentum for supporting industrial products and processing and manufacturing to participate deeply in the global supply chain, it is necessary to strengthen links and business cooperation to develop production chains and value chains, increase the added value of products and services, and move towards higher levels in the regional and global value chain.
In addition, it is necessary to innovate production and business models associated with sustainable development goals: clean, green, economical production, efficient use of energy, and environmental protection. At the same time, it is necessary to focus on developing human resources to meet the requirements of technological innovation and production processes that meet development requirements and trends.
Source: https://congthuong.vn/doanh-nghiep-cong-nghiep-che-bien-che-tao-tim-cach-mo-rong-thi-truong-tieu-thu-san-pham-354442.html
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