Many mechanical engineering enterprises have innovated technologies and found foreign partners in order to join supply chains Human resources limitations Le Manh Hung, Director General of the Enterprise Development Agency under the Ministry of Planning and Investment, said currently, there are about 750,000 enterprises operating nationwide, of which the SMEs play a leading role, contributing about 42 percent of Vietnam’s gross domestic product (GDP) and creating more than 50 percent of the country’s jobs. However, they are facing many challenges, including limited capabilities, human resources and connectivity with global supply chains. Few Vietnamese SMEs can serve as suppliers for companies with foreign direct investment (FDI) due to backward technologies, low capacity, lack of highly-skilled workers and of experience. Instead, FDI enterprises use foreign suppliers with which they are familiar. Marva Corley-Coulibaly, Chief of the Globalization, Competitiveness and Labor Standards Unit of the International Labor Organization said participating in the global supply chain benefits labor markets of developing countries by creating more jobs, increasing wages, and reducing poverty. However, it poses many challenges including distribution of benefits, work conditions, long working hours, violations of occupational safety, and men-women salary gaps. To address this problem, developing countries need to adjust policies on… Read full this story
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