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Cooperation, application of technology, building up a modern supply chain

Update: 15-04-2024 | 12:08:39

The issue of supply chain integration, building up a more modern supply chain received a lot of attention from Vietnamese and Chinese enterprises at the Horasis China Meeting 2024. Particularly, Chinese businesses had high demands on innovating operational management, applying IT and training human resources.

Integrating for development

Bui Phuong Dung, Member of the Women in Tech Vietnam Council chaired a session on supply chain integration for development, affirming that the Covid-19 pandemic has caused serious disruption to the supply chain system. Supply chain recovery is an important issue that needs to be resolved. The reality is that supply chains continue existing as long as industries still have demand for products. Big questions, including what is needed to increase enterprises ‘availability and recovery? How do Vietnamese and Chinese enterprises adjust to rebuild the supply chain? What obstacles will hinder future development?... need to be addressed. "Supply chain integration, building up a more modern supply chain will be an issue that Chinese and Vietnamese enterprises need to discuss to reach consensus and raise new heights in development cooperation", Mrs. Dung said.

Delegates attend a discussion session on global supply chain integration on the afternoon of April 14

Enterprises all believe that Vietnam's economy has great openness, deep international integration and has been suffering many impacts from the Covid-19 pandemic. Currently, along with the strong development of science and technology, production and cost optimization, the trend of shifting investment and global supply chains to disperse and minimize risks is strongly present, with many opportunities and challenges for Vietnam. Therefore, focusing on recovering and developing the supply chain and value chain after the Covid-19 pandemic is essential.

Discussing this issue, Jiang Yu, CEO of China’s Foretech said that in the current climate of great fluctuations taking place globally, all countries must reduce their dependence on a specific country while increasing supply chain flexibility. “We must have a policy to manage goods and limit supply chain disruptions; be flexible in production, making predictions about opportunities and risks from our own resources. It is necessary to apply blockchain technology, AI... to exchange information about businesses, support supply chain development, improve supply systems..., with technological breakthroughs in preventing data theft of businesses needed", Mr. Jiang Yu emphasized.

Responding to the opinions of Binh Duong’s enterprises on how to penetrate the Chinese market and develop a sustainable supply chain with reliable partners, Mu Guorong, Chairman of China’s Huijie Supply Chain Technology Co. said: "In terms of supply chain development, we need to carefully learn about partners; anticipate the risk of difficulty in finding customer files and develop a complete management model. Enterprises need to carefully investigate the market and have good partners in both China and Vietnam to save costs. Most importantly, they need to understand the issues of law, traffic, transportation time and minimizing costs. It is necessary for partners to share technology and improve policies to ensure a smooth supply chain".

Regarding the supply chain of food and agricultural products, the export strengths of Vietnamese enterprises to the Chinese market, Mr. Mu Guorong said that information about partners, transportation methods and markets is needed to develop supply. Particularly, enterprises need to survey and orient the market and regional tastes because China is very large.

Multimodal logistics

Mr.Mu Guorong said that Vietnamese enterprises need to pay special attention to the issue of logistics development with China. Particularly, it is necessary to build a railway line with China. In this cooperation, the Chinese side has great technical experience, allowing Vietnam to rely on its own strategy. Binh Duong also needs to have inner-city railway lines from industrial parks to reduce goods transportation costs. Besides, it is also necessary for the province to build up a system of ports and border gates associated with issues on security and safety; link roads and railways to save time and costs; develop a system of logistics warehouses; apply green energy...;  apply technology in handling import and export goods associated with cybersecurity and customer file security issues.

Vietnamese enterprises really need to be shared information about the Chinese market

Mr. Mu Guorong said that from the reality of applying technology to develop multi-modal logistics, his company has saved costs, optimized operations up to 50% of human resources and increased capacity by 60%. With the management of raw materials, warehouses and customer information, a firewall must be built. “For Vietnamese enterprises to be able to develop multi-modal logistics, it is necessary for them to add information transparency, limit intermediary costs and secure data to control fraudulent behavior; have an internet system that is strong enough to be able to operate machinery and apply science and technology. Enhancing exchange and cooperation to effectively develop the supply chain is also needed", he said.

Within the framework of the Horasis China Meeting 2024, at the reception with the China Federation for Industrial Economics (CFIE), Nguyen Van Loi, Member of the Party Central Committee, Secretary of provincial Party Committee, Head of the National Assembly deputy delegation affirmed that Binh Duong with the best regional infrastructure in Vietnam and universities providing high quality human resources will be a destination for Chinese enterprises’ cooperation and investment. Currently, Binh Duong has 4,500 FDI enterprises with total investment capital of more than US$40 billion. The average income per capita is double that of the country. Binh Duong has a large Chinese community residing and contributing greatly to the local economy and culture, with many similarities with Chinese investors and enterprises. In the coming period, Binh Duong will focus on changing the local ecosystem, economic structure towards increasing the proportion of trade and services. It is expected that potential investors will come to Binh Duong, together transforming the green economy, circular economy, developing ecosystems...as expected by the Government and authorities of Binh Duong.
Hung Mong, Vice-President of the CFIE said that it was a great honor for him to lead a delegation of Chinese businessmen for the sixth time to further exchange with partners from many countries, building friendship, creating consensus and expanding cooperation. With many activities on the sidelines of the forum for guests, he believes that everyone will feel the hospitality and warmth of the government, people of Binh Duong province and Becamex IDC. Members of the CFIE were honored to have in-depth exchanges with leaders of Becamex IDC while visiting many industrial parks and typical projects such as VSIP, witnessing and being impressed with the vitality and growth of Binh Duong economy. Let's look forward to upcoming meetings and deeper cooperation between Chinese and Binh Duong partners.

Reported by Tieu My-Translated by Kim Tin

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