On June 19, the
Department of Industry (Vietnam Ministry of Industry and Trade) collaborated
with the International Financial Corporation (IFC) of the World Bank Group,
with funding from the Australian Department of Foreign Affairs and Trade (DFAT)
and the Swiss Federal Economic Office (SECO) organized the “Opening Ceremony of
the Database System of Vietnam’s processing, manufacturing and supporting
industries” and put the Supporting Industry Portal into operation.
This system is intended
to support the provision of adequate information about enterprises for
organizations and individuals wishing to search, connect and trade; It provides
foreign-invested enterprises (FDI enterprises) with an overview of production
capacity, supply capability, product quality and technology of Vietnamese
manufacturing enterprises, as the same time, enhancing connectivity between
Vietnamese enterprises and FDI enterprises and investors.
Supporting industries
are industries that produce raw materials, accessories, spare parts, and
semi-finished products to supply the manufacturing, processing and assembling
industry of finished products being production materials manufacturing or
consumer products.
Vietnam’s supporting
industry is growing and playing an important role in participating in the
global supply chain and value chain. Large foreign companies and corporations have
established many company manufacturing, processing and assembling factories in
Vietnam. In 2019, the whole country has 3,478 new projects, with a total
capital of nearly 31.8 billion USD; in which, processing and manufacturing
industry accounted for the highest proportion with a total capital of 21.6
billion USD, accounting for 67.8% of total registered investment capital. This
demonstrates the expectation of FDI enterprises to reduce transportation costs
and risks, so it will create great opportunities for domestic parts suppliers
to develop production.
According to data on the
Enterprise Information Database system, Vietnam now has 500 enterprises in the
field of mechanical engineering, 347 enterprises in the field of automobiles,
750 enterprises in the field of electricity, 1,145 enterprises in the textile
sector and 910 enterprises in the footwear sector.
The database system of
manufacturing, processing and supporting industries is an important milestone
in addressing the need to establish a domestic B2B connection network with
foreign countries, helping enterprises and investors finding information
quickly, accurately, meeting the needs of investment connection, enhancing
cooperation opportunities between Vietnamese enterprises and FDI enterprises and
multinational corporations.
In the future, the
government will continue to support resources and finance to improve the
qualifications of the database system management staff, expand the data
information of many industries and continue to develop new features that allow
enterprises to create their own booths to introduce products, proceed to
establish an e-commerce platform for the processing, manufacturing and
supporting industries, help enterprises proactively approach and promote
cooperation, contribute to the development of Vietnam’s industry in the future.
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