Prof. Nguyen Mai, chairman of the Vietnam Association of Foreign Invested Enterprises (VAFIE), said that as of date, Samsung has invested US$17.363 billion in Vietnam. The number of Vietnamese suppliers of Samsung Electronics Vietnam and Samsung Electronics Vietnam Thai Nguyen (SEV/SEVT) had increased to 29 tier-1 vendors and nearly 200 tier-2 vendors in 2017. To increase the local firms’ capacity as well as respond to the call of the Vietnamese government for improving their competitiveness, Samsung organized the consultation program for local companies with an aim that some 50 Vietnamese companies would become SEV’s tier-one vendors by 2020. Prof. Nguyen Mai affirmed that connectivity between Vietnamese businesses and foreign direct investment (FDI) companies have provided practical assistance in terms of technological solutions and business administration to increase local firms’ capacity. On this basis, there are many Vietnamese businesses joining the global supply chains. However, the state needs to adopt mechanisms and policies to further promote connectivity. To increase the number of businesses involved in the global supply chains, the Ministry of Industry and Trade has met FDI companies to strengthen exchanges and provide support in order to create favorable conditions for local firms, with a focus on electronics and automobile…. Read full this story
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