Twenty one percent SMEs connect with global supply chains

Only 21 percent of Vietnamese small and medium enterprises (SMEs) have been able to connect with global supply chains, according to reports at a seminar hosted by International Finance Corporation (IFC), member of the World Bank, in HCMC on October 27.

Workers at a footwear company in HCMC (Illustrative Photo: SGGP)

According to experts at the event, Vietnam is one of the fastest growing economies in the world. The country’s international trade has increased stably.

Among ASEAN nations, Vietnam was the largest trade partner of the US with the turnover reaching US$29.4 billion in 2014.

However, only 21 percent of Vietnamese SMEs have been able to join in the global supply chain, lower than other regional nations such as Thailand with 30 percent and Malaysia with 46 percent.

Vietnamese enterprises will be able to attend more in the chain to promote their potentials and increase income if being supported with suitable financial services.

By Nhung Nguyen – Translated by Hai Mien

Other news