Experts urge firms to enter supply chains
Monday, March 13,2017AsemconnectVietnam - Companies that want to enter the global supply chain should show initiative and make concerted steps to enhance their capacity and growth, Dr Shantanaru Bhattacharya of Singapore Management University said at a forum held in HCM City on March 10.
“They should not passively wait for the government to help their growth,” he said.
Bhattacharya spoke at a seminar on the global supply chain held by the Business Association of High-Quality Vietnam Product Companies.
“Vietnam is perfectly positioned to be the next manufacturing hub in Asia,” he said, adding that the country has a huge advantage in location and cost as well as human capital.
However, the training level of the workforce remains at a basic level, and employees lack the skills to quickly adapt to work, he added.
Both Vietnamese and foreign employers have had to spend more capital to retrain their employees, he said.
Small- and medium-size enterprises, which account for large proportion of businesses in Vietnam, have also faced difficulties accessing domestic and foreign finance.
He said the Vietnamese government should create stable policies to develop the manufacturing economy.
Zulkifli Bin Baharudin, executive chairman at Indo Trans Logistics Corp in HCM City, said that many Vietnamese were not good at teamwork.
However, team skills help companies improve, which, in turn, makes it easier to enter the global supply chain.
Many Vietnamese enterprises represent only a small part of the global supply chain, according to a representative of Vietnam Supply Chain.
For example, in the garment sector, local companies’ contracts are primarily for sewing and cutting designs for their partners, she said.
If employees have higher skills, companies can more easily move up the global supply chain, she added.
At the forum, the Business Association of High Quality Vietnam Products Companies signed a memorandum of understanding with the Singapore Management University to provide a general non-binding framework of collaboration between the parties.
Cooperation will include management practice in Vietnam and the Mekong Delta region, and assistance in research and exchange of academic publications and information.
The partners will also engage in joint research projects and academic activities.
Bhattacharya spoke at a seminar on the global supply chain held by the Business Association of High-Quality Vietnam Product Companies.
“Vietnam is perfectly positioned to be the next manufacturing hub in Asia,” he said, adding that the country has a huge advantage in location and cost as well as human capital.
However, the training level of the workforce remains at a basic level, and employees lack the skills to quickly adapt to work, he added.
Both Vietnamese and foreign employers have had to spend more capital to retrain their employees, he said.
Small- and medium-size enterprises, which account for large proportion of businesses in Vietnam, have also faced difficulties accessing domestic and foreign finance.
He said the Vietnamese government should create stable policies to develop the manufacturing economy.
Zulkifli Bin Baharudin, executive chairman at Indo Trans Logistics Corp in HCM City, said that many Vietnamese were not good at teamwork.
However, team skills help companies improve, which, in turn, makes it easier to enter the global supply chain.
Many Vietnamese enterprises represent only a small part of the global supply chain, according to a representative of Vietnam Supply Chain.
For example, in the garment sector, local companies’ contracts are primarily for sewing and cutting designs for their partners, she said.
If employees have higher skills, companies can more easily move up the global supply chain, she added.
At the forum, the Business Association of High Quality Vietnam Products Companies signed a memorandum of understanding with the Singapore Management University to provide a general non-binding framework of collaboration between the parties.
Cooperation will include management practice in Vietnam and the Mekong Delta region, and assistance in research and exchange of academic publications and information.
The partners will also engage in joint research projects and academic activities.
Source: vov.vn
Mining Vietnam 2024 opens in Hanoi
Vietnam attends Asia’s biggest food, hospitality expo in Singapore
Vietnam an attractive destination for electronics, semiconductor investors: Official
Vietnam becomes biggest rice supplier for Singapore
Vietnam among top domestic infrastructure investors: Ambassador
Standard Chartered, US promote clean energy investments in Vietnam
Vietnam, Russia’s Zabaikal region enhance cooperation
Hai Phong Techfest connects Vietnamese, RoK businesses
Made-in-Vietnam wind turbine towers bound for RoK
Vietnam-Laos-Cambodia-Thailand trade fair opens in Laos
NA Chairman meets with executives of large Chinese groups
Vietnam, Laos sign new trade agreement
French businesses interested in Vietnamese market
Vietnam, Russia discuss stronger agriculture cooperation
Plan of Hai Duong province for a period of 2021 - 2030, ...
Organize space reasonably and harmoniously, focusing on connecting Hai Duong in common development space, actively contributing to the ...Plan of Hau Giang province in a period of 2021 - 2030, ...
Sustainable forestry development program in a period of ...
12th-century ancient road unearthed at My Son Sanctuary
An ancient road dating back to the 12th century has freshly been discovered in an excavation on architectural ruins at the east side of ...Efforts made to seek UNESCO’s recognition for Con Moong ...
Vietnam Art Photo Contest and Exhibition 2024 to be held ...
Bas-relief featuring talks between Uncle Ho and soldiers ...