Through the newly-formed database, multinational groups and foreign investors could easily access to the information related to more than 3,500 local enterprises in the fields of processing and manufacturing industry, supporting industries such as footwear, textiles, automobiles, electronics and manufacturing engineering to quickly and precisely make cooperation and investment decisions.
With a growth rate of about 10.6 percent per year, the manufacturing and processing industry is considered as a bright spot of the country’s industry in the context of the global economic downward due to the Covid-19 pandemic.
Besides, the industry is also a magnet attracting foreign investment, notably the country had around 3,478 new projects with total capital of nearly US$31.8 billion in 2019, of which the manufacturing and processing sector reached US$21.6 billion accounting for 67.8 percent of registered capital.
After the processes of surveying and collecting businesses information, the Vietnam Industry Agency under the Ministry of Trade and Industry completed and updated the information of 500 manufacturing and engineering enterprises, 347 automobile companies, 750 electronic firms, 1,145 textile enterprises and 910 footwear companies into the database.
According to the Minister of Trade and Industry, the database is a turning point contributing to not only form business to business (B2B) connection between local and international investors but it also enhances cooperation opportunities between Vietnamese and Foreign Direct Investment (FDI) enterprises, multinational business groups.
Especially, in the context of Covid-19 outbreak, the system is expected to increasingly promote business connectivity and take advantages of new trade agreements that Vietnam has just joined in such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) or European Union - Vietnam Free Trade Agreement (EVFTA), Minister Tran Tuan Anh added.
It is expected that Vietnam would become a hub of regional important processing and manufacturing thanks to the database.
