Enhance your ability to participate in global supply chains

Việt NamViệt Nam10/12/2024

In the 11 months of 2024 alone, the total newly registered, adjusted and contributed capital to buy shares of foreign-invested enterprises (FDI) in our country reached nearly 31.38 billion USD, an increase of 1% over the same period in 2023.

Manufacturing electronic products at Canon Vietnam Co., Ltd., Thang Long Industrial Park, Hanoi. Photo: DANG ANH

Of which, the capital realized in the first 11 months of 2024 is also the highest in recent years, estimated at 21.68 billion USD, up 7.1% over the same period last year. Currently, many large economic and technology corporations in the world are interested, gradually shifting the supply chain to Vietnam, promoting the search for local suppliers to increase the localization rate. The bright spot is that attracting FDI in the field of semiconductors and artificial intelligence (AI), including the Vietnamese Government and Nvidia Corporation (USA) signing a cooperation agreement to establish a Research and Development Center on AI and AI Data Center in Vietnam in early December showed that Vietnam is an attractive investment destination, trusted by countries and world corporations to become a new address in their business strategy.

In addition, there are some large corporations in the world such as Apple or Amazon, although they have not invested directly in Vietnam, but always consider our country as a region to order components, raw materials, and input equipment for the production process. This is also an important factor creating favorable conditions and opportunities for Vietnam to rise up and participate deeply in the global supply and value chain.

It can be said that this is a historical moment that brings great opportunities for the Vietnamese economy and enterprises in receiving investment capital and technology to become a link in the global supply chains of foreign enterprises. The Vietnamese economy and enterprises are currently assessed to have reached maturity in terms of position, scale, and capacity to be able to seize rare opportunities, creating a new spurt for economic growth in the following years. However, great opportunities often come with many challenges when the supply chain in Vietnam is still assessed to not meet the high expectations and requirements of foreign investors. Because out of 5,000 supporting industry enterprises, only about 100 enterprises are tier-one suppliers for multinational corporations, about 700 enterprises are tier-two, tier-three suppliers, etc. This figure shows that after nearly 40 years of business development, Vietnamese enterprises are still finding a place in the global supply chain, with the rate of enterprises actually becoming part of the global supply chain being very low.

Therefore, it is necessary to quickly have solutions to support businesses in a timely, synchronous and appropriate manner, in order to limit risks, as well as take advantage of opportunities of the transition trend. In particular, the Government needs to perfect institutions and policies with administrative procedures, import and export, and specialized inspections to be reformed more strongly; focus on policies to help businesses innovate technology, especially green technology, energy saving and renewable energy transition; develop digital economy, green economy, circular economy and new industries such as: Semiconductors, chips, clean energy, digital economy, AI...

In addition to support from the State, enterprises themselves need to enhance their spirit of daring to enter new fields that the economy really needs to reach out to the international market and compete directly with foreign enterprises according to market principles. Aiming to produce high-tech products with high intellectual content, creating high-value products, standing at a high position in the global supply chain; creating more competitive advantages by "greening" production, ... is a way to help Vietnamese enterprises seize the opportunity to participate. global supply chain


Source

Comment (0)

No data
No data

Same tag

Same category

Explore Lo Go - Xa Mat National Park
Quang Nam - Tam Tien fish market in the South
Indonesia fired 7 cannon shots to welcome General Secretary To Lam and his wife.
Admire the state-of-the-art equipment and armored vehicles displayed by the Ministry of Public Security on the streets of Hanoi

Same author

Heritage

Figure

Business

No videos available

News

Ministry - Branch

Local

Product