Vietnam’s supporting industry enterprises focus on high-quality production
Friday, March 03, 2023, 15:29 GMT+7
A major portion of the products churned out by Vietnam’s supporting industry are exported to foreign countries or supplied to foreign direct investment (FDI) enterprises at competitive prices.
These businesses are looking to a future that involves being a part of global supply chains with particular interests.
As part of the ‘Building Independent Industries’ forum, a delegation from the Vietnam Industry Agency under the Ministry of Industry and Trade, the Ho Chi Minh City Department of Industry and Trade, Tuoi Tre (Youth) newspaper, and many media agencies on Tuesday visited a number of businesses which operate in the supporting industry sector.
Nguyen Ngo Long, chairman of Nhat Long Mechanical Company in Thu Duc City, Ho Chi Minh City, met with the delegation at his firm’s headquarters to discuss Nhat Long's 20 years of experience operating within the supporting industry sector.
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| Tran Xuan Toan (C), deputy editor-in-chief of Tuoi Tre, speaks with Nguyen Ngo Long, chairman of Nhat Long Mechanical Company. Photo: Huu Hanh / Tuoi Tre |
Nhat Long’s products are exported to South Korea and Japan, as well as supplied to many FDI enterprises in Vietnam.
According to Long, Nhat Long has been investing heavily in modern production equipment, improving operational efficiency, focusing on product quality, and providing products at competitive prices compared to its foreign competitors.
Assessing Vietnam's industry, Long shared his belief that it is necessary to support small businesses in order to step into the global supply chain.
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| An employee from Dien Quang Lamp Joint Stock Company introduces the company’s products. Photo: Huu Hanh / Tuoi Tre |
“Big and small companies must work together toward sustainable and long-term development,” he stated.
Small-scale enterprises need favorable policies and support from large companies, he added.
The delegation also visited Dien Quang Lamp Joint Stock Company – a Vietnamese high technology producer which has achieved impressive success in the supporting industry segment by focusing on electronic equipment and engineering plastics for the medical industry, automobile production, and tablet device manufacturing.
Dien Quang’s intelligent lighting solution for the industrial sector is built on the basis of 4.0 technology which optimizes electricity costs and ensures worker safety.
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| A worker at the Dien Quang Lamp Joint Stock Company factory in Ho Chi Minh City. Photo: Huu Hanh / Tuoi Tre |
According to a Dien Quang representative, businesses using the company’s comprehensive intelligent lighting solution can save up to 80 percent of electrical energy consumption by measuring available natural light levels and adjusting the lighting system accordingly.
Many businesses believe that Vietnam's supporting industry has yet to reach its full potential as small and medium enterprises still face many difficulties in terms of market penetration, access to technology, and the availability of resources.
Meanwhile, investment policies for research and development in the supporting industry segment are not focused, limiting the opportunity to reach the global market.
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| An employee from Dien Quang Lamp Joint Stock Company introduces the company’s products. Photo: Huu Hanh / Tuoi Tre |
Assisting small and medium enterprises in joining the global supply chain
Tuoi Tre, the Ministry of Industry and Trade, and the Ho Chi Minh City Department of Industry and Trade jointly organized a seminar on Tuesday which focused on assisting small- and medium-sized enterprises in joining the global supply chain
The event saw the attendance of officials, experts, and representatives from domestic and foreign industry enterprises.
Delegates discussed the transformation of the global supply chain and issues related to industry linkages, as well as worked together to find solutions to help small and medium enterprises overcome obstacles and participate in the global supply chain.
The workshop is part of a series of events under the ‘Building Independent Industries’ initiative, which has been hosted annually by Tuoi Tre since 2022.
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