Ministry, WB to support development of Vietnamese suppliers

SGGP
The Ministry of Industry and Trade yesterday said that it will work with the World Bank to implement a pilot program to develop Vietnamese suppliers in the support industry.

 Rubber component production at Thong Nhat Rubber Joint Stock Company (Photo: SGGP)

Rubber component production at Thong Nhat Rubber Joint Stock Company (Photo: SGGP)

They will focus on improving Vietnamese businesses’ ability so that they can meet requirements to attend supply chains of FDI firms.
Ms. Le Nguyen Duy Doanh, deputy director of HCMC Support Industry Development Center, said that 45 Vietnamese support industry companies and eight FDI companies namely Bosch, Canon, Datalogic, Denso, Ford, General Electronic, Panasonic and Toyota will attend the program.
FDI firms will send experts to help Vietnamese firms to improve production ability and process to meet standards and join in supply chains.
In the support industry field, Vietnam now has about 1,800 businesses producing components and accessories; and over 1,500 companies making garment and textile and footwear materials, accounting for 4.5 percent of processing and manufacturing firms.
According to global buyers of support products, Vietnamese firms are quite good at making molds, bike and motorbike components, mechanical components, electric cables, plastics-rubber parts and tire. Their products have not only met domestic demand but also been exported to some nations.

By MINH XUAN – Translated by Hai Mien

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