Supporting industries future looks bright

HCM CITY — Foreign companies in Việt Nam are increasingly looking to source components and parts locally, offering local firms a great opportunity to enter global supply chains, a meeting heard in HCM City. “In such a context, Việt Nam receives a lot of attention.” A 2021 survey by JETRO on Japanese investment in Asia and Oceania found that 55.3 per cent of Japanese businesses wanted to expand their operations in the next one to two years in Việt Nam, the highest rate in Southeast Asia, he said. The number of US and European buyers coming to Việt Nam to look for new sources of supply is also increasing, offering great business opportunities to Vietnamese enterprises, he added. Lê Nguyễn Duy Oanh, deputy director of the HCM City Centre for Supporting Industries Development, said foreign companies in the electronics, mechanical engineering, robotics, and other sectors have been seeking out various types of components in the local market. Oanh said her centre has collaborated with multinational companies to help local firms improve their capacity, reduce the rate of defective goods and address management weaknesses, and some of the latter have become their suppliers since, she said.

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