Chi Binh News Today

Domestic enterprises are suggested taking advantage of global supply chain shifts as Vietnam is emerging as an attractive investment destination for global investors.

As Vietnam is emerging as a magnet for foreign businesses, domestic companies now have numerous opportunities to join global supply chains and develop supporting industries.

Their orders have increased

Policies are needed to boost the number of domestic enterprises participating in the supply chain of multinational companies, and a boost is necessary in the localisation rate of the processing and manufacturing industry, which now remain modest, insiders said.

Policies are needed to boost the number of domestic enterprises participating in the supply chain of multinational companies, and a boost is necessary in the localization rate of the processing and manufacturing industry, which now remain modest, insiders said.

Vietnamese automobile prices are substantially higher than those in other regional countries because of high taxes and low output, according to the Ministry of Industry and Trade.

Three months after ending the preferential policy of 50 per cent reduction in registration fees for domestically-assembled cars, the volume of imported cars to Vietnam has increased sharply.

The Vietnam Manufacturing Expo (VME) 2022 kicked off on August 10 in Hanoi, with the event attracting the participation of approximately 200 brands in the manufacturing and electronics industries from over 10 countries and territories globally.

More than 100 Vietnamese and foreign firms are showcasing advanced wood processing technologies, machinery and raw materials at the 2022 Vietnam BIFA Wood exhibition which opened in southern Binh Duong province on August 8.

Despite the efforts of Japan and Vietnam, the participation of Vietnamese enterprises in the supply chain of supporting industry products of Japan is still limited.