Supply chain

Illustrative image (Photo: cafef.vn)   Hanoi (VNA) – Only about 300 of the over 1,800 businesses working in supporting industries in Vietnam have joined production chains of multinational enterprises, a figure described by analysts as too modest. Vice Chairwoman and Secretary General of the Vietnam Association of Supporting Industries (VASI) Truong Thi Chi Binh released the information at a recent workshop, noting that the problem lies in the capacity of those companies themselves. A survey of the VASI shows that the organisation, trading and capital absorption capacity, along with the human capital, of many businesses are weak. Many of them lack appropriate management standards, but when invited to build those standards, they reject the offer, claiming that this work is costly. And when multinational companies come to place orders, they fail to meet their partners’ demand because of the lack of management standards, Binh noted. Most of the companies in supporting … [Read more...] about Vietnamese firms’ presence in global chains remains modest

An egg quality evaluating machine. (Source: VNA) HCM City (VNA) – Updating technology and revamping administration are crucial for the existence and development of Vietnamese businesses amidst the fourth industrial revolution, experts said at a workshop in Ho Chi Minh City on April 12. The experts agreed that the industrial revolution has directly impacted Vietnam’s economy, especially enterprises. Assoc. Prof. Dr. Le Hoai Quoc, head of the management board of the Saigon High-teach Park (SHTP), said the revolution generates both opportunities and challenges for local firms. Sectors like tourism, domestic trade, IT, education, health care and construction will benefit from data connectivity and digitalisation. Meanwhile, energy, electricity, electronics, manafucaturing technology and garment-textile are expected to face cost-related challenges. However, this rule would not be applied to all enterprises in those sectors, he said, explaining that those which know how … [Read more...] about Vietnamese firms brace for Industry 4.0

Visitors to the Vietnam International Machinery Fair and the Vietnam Supporting Industry Fair that opened in HCM City on December 12 (Photo: VNA) HCM City (VNA) – The Vietnam International Machinery Fair (VIMAF) and the Vietnam Supporting Industry Fair (VSIF) kicked off in Ho Chi Minh City on December 12. The first-ever events, held at the Saigon Exhibition and Convention Centre, feature around 450 booths of 300 businesses from Vietnam and other countries, including the Republic of Korea, Singapore, Thailand and India. They showcase a wide range of industrial products such as factory automation, products supporting hi-tech industries, metal working machines and tools, factory equipment, electrical equipment, and industrial spare parts and materials. Major brands present at the three-day fairs include Doosan Infracore, Century Precision, Dae Jin Hydraulic, Shin Myung Electric MFG, and 3A Engineering. Nguyen Phuong Dong, Deputy Director of the HCM City Department of … [Read more...] about Industrial equipment displayed at first-ever fairs in HCM City