HCMC expands supply chain for FDI enterprises

SGGP
The Management Board of the Saigon High-Tech Park, on October 28, collaborated with the Department of Industry and Trade of Ho Chi Minh City to organize the signing ceremony of a regional association agreement on the development of a network of supporting industry products with Long An, Binh Duong, Dong Nai, and Ba Ria - Vung Tau provinces.

Representative of the Management Board of Saigon High-Tech Park signs a cooperation agreement with the Management Board of export processing zones, industrial parks, and key economic zones in the South. (Photo: VNA)

Representative of the Management Board of Saigon High-Tech Park signs a cooperation agreement with the Management Board of export processing zones, industrial parks, and key economic zones in the South. (Photo: VNA)

Accordingly, all the parties committed to sharing basic data about the number of enterprises, manufacturing sectors, and product categories in each industrial park, economic zone, and hi-tech park operating in the provinces and cities, and gradually building the ecosystem of supporting industry enterprises. This is also the basis for the direct connection between domestic enterprises and foreign direct investment (FDI) enterprises producing end products.

At the signing ceremony, Ms. Le Bich Loan, Deputy Head of the Management Board of Saigon Hi-Tech Park, said that FDI and domestic enterprises mainly concentrated in the key economic region in the South. It is estimated that the production of the region accounts for 40 percent of the country's gross domestic product. The value of export turnover also accounts for 40 percent of the country.
As for foreign investment attraction, the whole region has attracted US$173 billion out of $345 billion of total foreign investment capital. This has created a great demand for supporting industry products. Therefore, this signing will create favorable conditions for provinces to share information, shorten the supply-demand gap between domestic and FDI enterprises. In the long term, the parties will detail the way of connection, promote the resources and potential of domestic enterprises to promote business cooperation and participate in the global supply chain of supporting industry products.

On the same day, the forum ‘Welcoming new investment waves’ was held by the Vietnam Investment Review. Data from the Foreign Investment Department under the Ministry of Planning and Investment shows that by October 20, the total registered foreign investment capital in Vietnam exceeded $23 billion, equal to 80 percent compared to the same period last year.

By Ai Van, Nhung Nguyen – Translated by Bao Nghi

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