Samsung Vietnam helps local firms join global supply chain

Leaders of the northern province of Bac Ninh and Samsung Vietnam on August 26 made a trip to evaluate the results of the two enterprises including Hanpo Vina Joint Stock Company and Thinh Vuong Manufacturing and Trading Co Ltd participating in the "domestic business improvement consulting programme".

Samsung Vietnam helps local firms join global supply chain hinh anh 1

Leaders of the northern province of Bac Ninh and Samsung Vietnam evaluate improvement results at Hanpo Vina Joint Stock Company. (Photo courtesy of the firm)

Leaders of the northern province of Bac Ninh and Samsung Vietnam on August 26 made a trip to evaluate the results of the two enterprises including Hanpo Vina Joint Stock Company and Thinh Vuong Manufacturing and Trading Co Ltd participating in the "domestic business improvement consulting programme".

This project was implemented by Korean experts of Samsung over about 10 weeks after assessing the actual production capacity of enterprises in Bac Ninh province. The project’s goal is to improve productivity; management capacity and product supply capacity so that Vietnamese enterprises could join the supply chain of large global corporations like Samsung.

Hanpo Vina Joint Stock Company is a supplier of plastic injection products for Samsung's first-tier contractors. The company said that after the improvement process, the product defect rate (NG) decreased by 53 percent, the factory was redesigned to easily locate inventory and manage actual inventory more effectively and ensure the first-in-first-out rule. In addition, it has also built a production management system that compares actual output with the plan, thereby ensuring on-time delivery.

Thinh Vuong Manufacturing and Trading Co Ltd is the first-tier supplier of Samsung Display Vietnam’s factory providing plastic display tray products. After the improvement, its NG, the mould replacement time and the loss rate incurred during the production process was reduced by 20 and 30 percent respectively. In addition, the company has also built a system of on-time delivery, sufficient quantity, and a quality control system from the production stage.

The consulting programme helps companies easily upgrade into a "smart factory".

Chairman of the Bac Ninh Provincial People's Committee Nguyen Hương Giang said currently, as the COVID-19 pandemic situation is well controlled in the province, she hoped that more businesses would participate in the consulting programme.

Choi Joo Ho, General Director of Samsung Vietnam, said: “I highly appreciate the determination and efforts of businesses to overcome difficulties caused by the COVID-19 pandemic with the aim to successfully fulfil the improvement consulting programme at this time. I hope that the positive changes after this improvement programme will be followed by strengthening the underlying competitiveness of companies. In the meantime, I also expect that this project will spread to all of Vietnam, contributing to its economic development.”

Along with efforts to accompany the Vietnamese Government to improve the competitiveness of domestic suppliers in general across the country, up to now, Samsung has consulted 260 enterprises.

The number of Samsung’s local suppliers has been expanded from four enterprises in 2014 to 50 tier-1 and 191 tier-2 suppliers in 2020./.

Source: VNA
en.vietnamplus.vn

Related News

There is no basis to confirm that loss of export goods occurs at Cat Lai port: Saigon New Port

There is no basis to confirm that loss of export goods occurs at Cat Lai port: Saigon New Port

VCN - VCN - The risk of loss of goods occurs at many stages, currently there is no basis to confirm that the loss of goods occurs at Cat Lai port.
Developing specialty coffee to enhance the value and reputation of Vietnamese coffee

Developing specialty coffee to enhance the value and reputation of Vietnamese coffee

VCN - Investing in the high-end segment is a way to increase value for the coffee industry, in which specialty coffee is a direction that businesses and cooperatives are interested in and is bringing positive results.
Vietnam automobile market and support problem

Vietnam automobile market and support problem

VCN - Continuing the downward trend of 2023 (up to 25%), in the first 4 months of 2024, the number of cars consumed on the market is still falling to a worrying level, high inventory, causing difficulties for automobile manufacturing and trading enterprises. The question is how the Vietnamese automobile industry will develop and how competitive the products will be in the context of the import tax reduction roadmap implemented when Vietnam implements its commitments in the Free Trade Agreement between Vietnam and the European Union (EVFTA).
Finance Ministries of Vietnam and Laos promote comprehensive cooperation

Finance Ministries of Vietnam and Laos promote comprehensive cooperation

VCN – On May 28, Minister of Finance Ho Duc Phoc had a meeting with Mr. Santiphab Phomvihane, Minister of Finance of the Lao People's Democratic Republic.

Latest News

Increasing consumer protection responsibility in the electronic environment

Increasing consumer protection responsibility in the electronic environment

VCN - Along with its robust growth, e-commerce has introduced numerous new issues and challenges for economic and social development, including the area of consumer rights protection
PM orders sustainable development of construction materials industry

PM orders sustainable development of construction materials industry

Prime Minister Pham Minh Chinh on June 15 required restructuring in terms of organisation, administration, finance, and input materials at enterprises in the construction materials industry towards their sustainable development.
Seeking growth drivers for the Red River Delta region

Seeking growth drivers for the Red River Delta region

VCN - According to enterprises, promoting digital transformation alongside concretizing certain policy contents for the development of free trade zones will create numerous incentives for regional economic development, including the Red River Delta region.
Proactively forecast and carefully consider when to adjust prices

Proactively forecast and carefully consider when to adjust prices

VCN - In price management, the Government and the Ministry of Finance strongly require the implementation of solutions to stabilize market prices, along with public and transparent price declaration activities and not unreasonably increase prices of goods and services.

More News

PM demands stronger efforts to make strategic institutional breakthrough

PM demands stronger efforts to make strategic institutional breakthrough

Prime Minister Pham Minh Chinh on June 13 demanded that the Government continue to enhance discipline, reform mindset and working methodology, and effectively implement the strategic institutional breakthrough to unlock all resources for development.
PM urges stronger efforts to complete expressway target

PM urges stronger efforts to complete expressway target

Prime Minister Pham Minh Chinh has asked for greater efforts from ministries, sectors, and localities to realise the goal of completing 3,000 km of expressways nationwide by December 31, 2025.
Singaporean newspaper: Vietnam’s economy poised for gradual recovery

Singaporean newspaper: Vietnam’s economy poised for gradual recovery

Singapore’s maritimefairtrade.org recently published an article on the recovery of the Vietnamese economy, citing the latest World Bank Taking Stock bi-annual economic update with growth forecast to reach 5.5% in 2024 that will gradually rise to 6% by 2025.
China remains top priority in Vietnam’s foreign policy: President

China remains top priority in Vietnam’s foreign policy: President

Vietnam considers developing friendship and cooperative ties with China as a strategic choice and a top priority in its foreign policy of independence, self-reliance, and diversification and multilateralisation of external relations, President To Lam told Chinese Ambassador to Vietnam Xiong Bo at a reception in Hanoi on June 11.
Vietnam among six ASEAN countries with good economic growth: Maybank

Vietnam among six ASEAN countries with good economic growth: Maybank

The gross domestic product (GDP) growth of six ASEAN countries - Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam - will recover to 4.5% and 4.7% in 2024 and 2025, respectively, from 4% in 2023, according to Maybank Research Pte Ltd forecast.
Domestic production sees green shoots

Domestic production sees green shoots

Vietnam ran a trade deficit in May as the import of major materials rebounded, signaling that green shoots are sprouting in domestic production, experts have said.
With the recovery momentum returning, businesses need to speed up credit

With the recovery momentum returning, businesses need to speed up credit

VCN - In recent instructions, the monetary policy regulator continues to urge banks to implement practical and effective solutions to strive for system-wide credit growth, which will be 5-6% by the end of the second quarter of 2024.
School-business cooperation for the goal of 50-100 thousand high-quality human resources

School-business cooperation for the goal of 50-100 thousand high-quality human resources

VCN - In the current context, the connection between schools and businesses is an inevitable trend, to both ensure and improve the quality of the school's training products and create quality human resources input for businesses.
Numerous factors behind the non-allocation of over VND 17.6 trillion in public investment capital

Numerous factors behind the non-allocation of over VND 17.6 trillion in public investment capital

VCN - According to the Ministry of Finance, the failure to allocate a relatively large amount of more than VND 17.614 trillion has affected the disbursement rate of public investment capital from the state budget in the early months of 2024.
Read More

Your care

Latest Most read
Increasing consumer protection responsibility in the electronic environment

Increasing consumer protection responsibility in the electronic environment

VCN - Over recent years, e-commerce has experienced significant growth, becoming a major trend in global commerce.
PM orders sustainable development of construction materials industry

PM orders sustainable development of construction materials industry

Prime Minister Pham Minh Chinh on June 15 required restructuring in terms of organisation, administration, finance, and input materials at enterprises in the construction materials industry towards their sustainable development.
Seeking growth drivers for the Red River Delta region

Seeking growth drivers for the Red River Delta region

VCN - In early May, Prime Minister Pham Minh Chinh signed Decision 368/QD-TTg approving the planning for the Red River Delta region for the period 2021-2030, with a vision to 2050. Accordingly, the goal is for the region's gross regional domestic product
Proactively forecast and carefully consider when to adjust prices

Proactively forecast and carefully consider when to adjust prices

In price management, the Government and the Ministry of Finance strongly require the implementation of solutions to stabilize market prices, along with public and transparent price declaration activities
PM demands stronger efforts to make strategic institutional breakthrough

PM demands stronger efforts to make strategic institutional breakthrough

Prime Minister Pham Minh Chinh on June 13 demanded that the Government continue to enhance discipline, reform mindset and working methodology, and effectively implement the strategic institutional breakthrough to unlock all resources for development.
Mobile Version