Find a way to join global supply chain for supporting industry enterprises

VCN - By cooperating with large manufacturers who invest in Vietnam, supporting industry enterprises will have more opportunities to join the global value chain.
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To date, Hanoi has about 900 enterprises participating in the field of supporting industries with nearly 300 enterprises of which products meet international standards. Supporting industry enterprises in the capital have been increasing in quantity, size, quality and fields.

In which, the production of components and spare parts is the key group, providing supporting industrial products for most of the key manufacturing industries. In particular, many enterprises have been able to supply to the global production network of multinational corporations in Vietnam. Therefore, opportunities for supporting industry enterprises are increasingly open, especially when many foreign enterprises have been choosing Vietnam as a destination.

Recently, INVENTEC Group (IEC) introduced the demand for supplying products, services and accessories related to production activities in Vietnam. The representative of this group said that the Vietnamese market in general and Hanoi capital, in particular, is one of the key areas of INVENTEC with the immediate goal of a high-tech project in the South Hanoi Supporting Industrial Park (HANSSIP).

The IEC’s investment project in HANSSIP is expected to come into operation in the fourth quarter of 2024, which will bring about 20,000-25,000 regular jobs, and create a complex of research, development, supply chain and production of high-tech products and components.

In particular, this project is considered to support Hanoi and Vietnamese enterprises to participate in the global production chain of INVENTEC and partners around the world.

Deputy Prime Minister Tran Hong Ha receives the delegation led by Mr. Truong Canh Tung, Chairman of INVENTEC Group (IEC).
Deputy Prime Minister Tran Hong Ha receives the delegation led by Mr. Truong Canh Tung, Chairman of INVENTEC Group (IEC).

Ned Wang, Deputy General Director in charge of global supply chain of INVENTEC, said that the group specializes in the production and consumption of electronic and technology equipment. Therefore, suppliers will focus on manufacturing components and materials such as plastic components, circuit boards, boxes, etc. The group will give priority to ordering products with large volumes such as packages, covers and components.

Currently, INVENTEC Group is managing a series of production and scientific research centers in the markets of Taiwan, Mainland China, Mexico, North America and some other areas in the world with a turnover of nearly US$20 billion in 2022.

However, the problem of Vietnamese enterprises is how to meet the requirements of international partners because the process of selecting manufacturing enterprises for the supply chain of large corporations is often very strict.

The representative of INVENTEC said that the group will receive information about capacity profiles, then choose an appropriate time to visit and survey the factory. Once the group understands the scale and production capacity of enterprises, the group will make a set of topics, requirements on product specifications and standards, etc., and then sign an agreement. This process can take from 10 months to 3 years.

Therefore, many domestic enterprises have transformed digitally and associated with partners from Japan and South Korea to provide technical support, improve production capacity, and seek financial sources to invest in machinery and equipment and new factory projects.

Mr. Nguyen Hong Phong, President of the Board of Directors of An Mi Tools Co., Ltd (Anmi Tools) said that, after investing in modern technology and high-precision machines, the company has become a supplier for multinational partners and customers. However, to invest in equipment innovation, the company may need up to US$5-7 million per year, this is a large financial amount so not all businesses can do it.

To accompany businesses, Mr. Nguyen Hoang, Chairman of the Hanoi Supporting Industry Business Association (HANSIBA) suggested that the authorities should issue preferential policies for Vietnamese businesses in general and businesses in Hanoi in particular to be eligible to join the global chain.

As for the cooperation with INVENTEC, he desires to establish an INVENTEC industrial complex bearing the economic symbol of Vietnam - Taiwan at the HANSSIP. HANSIBA member enterprises will be supported to have a program to build standard factories according to INVENTEC's chain.

Vietnamese businesses could join global supply chains with sound strategies: experts Vietnamese businesses could join global supply chains with sound strategies: experts

In addition, businesses also continue to expect the Law on Supporting Industry to be issued soon, which contains specific policies for supporting industries to promote Vietnamese businesses to develop and participate in domestic and international production, business and supply chains.

By Huong Diu/ Huyen Trang

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