Experts agree that the ''bottleneck'' is because the majority of supporting industry enterprises are often small-scale, have financial difficulties, lack high-quality human resources and have not focused on investing in technology.
There will be more opportunities for Vietnamese companies to connect and work with international businesses and engage more deeply in the global network to facilitate the transfer of technical know-how and in training a skilled labour force.
Domestic enterprises are suggested taking advantage of global supply chain shifts as Việt Nam is emerging as an attractive investment destination for global investors.
Vietnamese enterprises currently have limited participation in the global supply chain, and are not deeply involved in the value chain of multinational corporations present in Viet Nam.
Ha Noi Plastics Joint Stock Company (HPC) aims to constantly , innovate technology and improve technical capacity, especially in the field of precision mechanics and mould production to further penetrate the global supply chain.
Besides churning out high-quality products, Vietnamese producers must meet other strict requirements of importers, including a good governance system, to enable to participate in the global supply chain, experts said.
Viet Nam is set to play the role of “value-creating” partner in the global supply chain by continuing to upskill its workforce, invest in infrastructure and enforce stringent governance standards after the pandemic ends.
Economist Vo Tri Thanh said that to adapt to the trend of restructuring the global supply chain caused by the pandemic, Vietnamese businesses must focus on innovation and utilise digital transformation to bring products to market.
Vietnamese brands are expected to shine in the global supply chain, said Minister of Industry and Trade (MoIT) Tran Tuan Anh in a letter of congratulations to the country’s community on Viet Nam Brand Day.
Swedish food processing and packaging solutions company Tetra Pak on Wednesday added Viet Nam to its global supply chain map by inaugurating the countrys first-ever aseptic carton packaging material factory in the southern province of Binh Duong.
Local exporters have been urged to prepare for any trade-related lawsuits and disputes arising from the escalating US-China trade war amid concerns that the two major powers will not reach an agreement this month.