Southeast Asia Information Port (www.dnyxxg.com) – Since Vietnam's vigorous opening up and deep integration into the global economy, supporting industries, as the backbone of all modern industrial production, have always been a crucial piece of the national socio-economic development puzzle.
According to statistics from Vietnam's Ministry of Industry and Trade, Vietnam's industry has made significant and undeniable progress. The number of enterprises has increased, production capacity has improved, and some sectors have begun to establish their own unique identity. To date, there are over 40,000 enterprises engaged in Vietnam's supporting industries, accounting for nearly 10% of the total number of industrial enterprises.
The localization rate in industries such as automobiles and electronics has increased. The presence of multinational corporations such as Samsung, Canon, Intel, and Bosch has become a powerful driving force. They have not only brought capital and technology but also imposed stringent quality and management standards, forcing Vietnamese supporting industry enterprises to upgrade themselves.
Many Vietnamese enterprises have boldly invested in modern machinery, applied international quality management systems, and gradually become second- and third-tier suppliers in the supply chains of these giants. Stories of Vietnamese enterprises that initially produced only simple packaging and plastic parts now providing precision mechanical parts and complex molds to global corporations are no longer uncommon. These are vivid testaments to the resilience and adaptability of Vietnamese enterprises.
Nguyen Duc Trung, Chairman of HBT Vietnam Precision Machinery Joint Stock Company, stated that amidst the global supply chain shifts due to concerns about geopolitical situations and inter-state trade tensions, Vietnam, with its strategic geographical location, stable investment environment, and extensive free trade agreements, has become an ideal destination for global businesses. This has opened up tremendous opportunities for Vietnamese supporting industries to further integrate into the value chain. International partners are not only seeking low-cost production bases but also prioritizing the stability and resilience of the supply chain and the accessibility of local suppliers.
On the other hand, the Vietnamese government fully recognizes the importance of supporting industries and has promulgated numerous supportive policies and plans. These range from resolutions encouraging investment and tax incentives to plans supporting human resource training and technology transfer. Notably, Politburo Resolution 23-NQ/TW on "Directions for National Industrial Development Policy to 2030 and Vision to 2045" strengthens the elevation of supporting industries to a priority sector. This creates a legal framework and a favorable environment for industry development.
Many experts believe that Vietnam's 16 new-generation free trade agreements are opening wide doors for goods to enter key markets. Therefore, supporting industries need to proactively understand and utilize rules of origin and tariff preferences to enhance their competitive advantage when exporting products. Simultaneously, the expanded foreign policy will continue to attract high-quality foreign direct investment, thereby increasing demand for supporting industries.
The journey of Vietnam's supporting industries in "finding partners in international integration" is not a rose-strewn path; therefore, many thorns and challenges will need to be overcome. Now more than ever, supporting industries need resilience, a will to rise, and support from the government and partners. This will form the foundation for Vietnam's supporting industries to transform into an indispensable "golden link" in the global supply chain. (End)
