Vietnam interested in joining global supply chains

Friday, 2017-10-06 18:08:28
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Vietnam has been interested in joining the global supply chain and management governance (Illustrative image. Source: VNA)
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NDO/VNA - Vietnam is interested in joining the global supply chain and management governance, which is considered as an effective tool for businesses to control the market, build up confidence among customers and increase profits and connectivity with global partners, stated a trade official.

At a workshop in Hanoi on October 6, Deputy Minister of Industry and Trade Do Thang Hai said that the Ministry of Industry and Trade (MoIT) has advised that the Government builds a number of projects and programmes in order to promote the consumption of domestic goods and help enterprises to expand their markets and organise goods supply chains.

He cited the domestic market development project in association with the campaign “Vietnamese people prioritise using Vietnamese goods”; the rural trade development project in 2010-2015, with a vision towards 2020; the project promoting Vietnamese firms to export to foreign distribution networks by 2020; the national trade promotion programme; the national industrial encouragement programme through 2020; and the trade development programme in mountainous, remote, coastal and island regions in the 2015-2020 period.

Deputy Director of the MoIT’s Domestic Market Department Le Viet Nga said that the supply chains play an important role in supporting enterprises to operate effectively and promote economic growth.

Global firms tend to join supply chains to increase their profits and achieve sustainable development, she said, adding that the engagement in effectively managed supply chains will enable them to gain more opportunities to dominate the markets, gain trust from customers and expand their business strategies.

Since 2013, the MoIT has approved 1,025 projects with a total cost of VND 511.5 billion (US$ 22.5 million), including 77 projects worth over VND 154 billion (US$ 6.7 million) to promote domestic trade in mountainous, border, coastal and island regions.