SMEs become more active in global chain production
Small-and medium-sized enterprises (SMEs) have become more confident and active to get engaged in the global production value chain, heard a workshop in Hanoi on November 9.
Hanoi (VNA) – Small-aᩚᩚᩚᩚᩚᩚᩚᩚᩚ𒀱ᩚᩚᩚnd medium-sized enterprises (SMEs) have become more confident and active to get engaged in the global production value chain, heard a workshop in Hanoi on November 9.
According to the Central Institute for Economic Management (CIEM), the ratio of enterprises withdrawing from the market stood at 8.2 percent per annum over the past three years.
The number of newly-established firms has increased in the 2010-2015 period, while the rate of employment also registered a rise of 5.2 percent, the CIEM said.
The positive outcomes were attributed to the support policies, especially the enforcement of the Law on Investment and the Law on Enterprises.
Experts also pointed to existing shortcomings such as the small-scale operation, low productivity and application of new cutting-edge technologies, poor-quality products, and limited competitiveness.
They said a single business line brought higher economic efficiency and profits for businesses than multiple business lines.
In the context of global integration, it is a good idea for SMEs to concentrate on a specific field to make inroad into the most suitable market segment, the panel recommended.
Vice President of the CIEM Phan Duc Hieu said improving the business-investment climate is imperative to realise the target of having one million effectively operational businesses by 2020.-VNA
President Tran Dai Quang urged small-and medium-sized enterprises (SMEs) to churn out products and services of international standards as part of the global value chain.
The Association of Small- and Medium-Sized Enterprises should continue proposing policies and mechanisms to the Government in order to facilitate the development of SME businesses.
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Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
Illustrative image (Source: VNA)
