Samsung’s mobile phones and phone parts are getting more sophisticated and smaller, which change every six months. It is a challenge for Vietnamese enterprises to renovate production lines and technologies, which requires huge capital. “If Vietnamese vendors can provide products with quality, meeting requirements, and at stable reasonable prices, there won’t be a reason for Samsung to refuse to buy products from them,” he said. … [Read more...] about How do VN businesses join the global supply chain?
Diversify supply chain
In 2018 and 2019, the MoIT cooperated with Samsung Group to organize the training of Vietnamese consultants in the field of manufacturing innovation and quality improvement. Some 40 Vietnamese enterprises received training support and all have displayed marked results in production improvement. These include increased productivity of at least 70 percent, a 50 percent drop in the rate of errors, increased accuracy of production plans, which makes an important contribution to inventory management, delivery and loss analysis. … [Read more...] about Vietnam’s support industry develops links in global supply chain
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Takeo said the process of diversifying value chains by the Japanese enterprises began a while ago, and the COVID-19 pandemic requires firms to diversify production to two to three destinations to avoid supply chain disruptions though production costs might rise as a result. … [Read more...] about Japanese businesses seek to take advantage of Việt Nam potential
Jack Nguyen, partner at international accounting and advisory firm Mazars in Vietnam There is no doubt that the global supply chain is now evolving and pivoting from China to elsewhere, particularly to ASEAN. Companies operating in China were already starting to shift their manufacturing plants to other lower labour-cost countries a few years ago. … [Read more...] about Arraying Vietnam for global investment shift