Conference links Vietnamese, Japanese firms in supporting industries
Twenty-one Vietnamese enterprises in supporting industries and 48 Japanese businesses took part in an online conference on Thursday to exchange information and seek partners.
Vu Ba Phu, Director of the Vietnam Trade Promotion Agency (Vietrade) at the Ministry of Industry and Trade, briefed the conference on Viet Nam’s foreign trade activities, with export revenue in the first five months of this year estimated at US$130.94 billion, up 30.7 per cent year-on-year.
The export value of phones and spare parts increased 19.6 per cent, computers, electronics and components jump 26 per cent, and machinery, equipment, tools, and spare parts soared 74.8 per cent, he said.
Vietnamese enterprises in supporting industries are growing in terms of both number and quality, and integrating intensively into global production chains, Phu added.
They account for nearly 4.5 per cent of enterprises in the processing and manufacturing sector, generate jobs for more than 600,000 workers, or nearly 8 per cent of the workforce in the processing and manufacturing sector, and contribute 11 per cent of total revenue in the sector.
In his remarks, Masataka Fujita, Secretary-General of the ASEAN-Japan Centre (AJC), pledged the centre will make greater efforts to promote trade between Viet Nam and Japan.
Akutsu Michio, an expert from the Association of International Business Advisors, pointed out the challenges to Vietnamese supporting enterprises such as low productivity and a shortage of trained workers.
He suggested firms improve their production capacity and product quality and take measures to attract high-quality workers, saying apart from providing products for Japanese enterprises in Viet Nam, domestic businesses should also seek partners abroad.
To facilitate the supporting industries, the Vietnamese Ministry of Industry and Trade launched a database in June 2020 that provides information on more than 3,600 domestic firms operating in mechanics, auto, electronics, and garments and textiles.