Proactive cooperation to seize development opportunities

By implementing breakthrough solutions in strategic cooperation, province-based enterprises are striving to accelerate the development of modern, environmentally friendly industries, contributing to the local sustainable economic growth.

Driving force for production

Recently, with strong support from the province, local enterprises have actively expanded international relations and investment cooperation with both domestic and foreign partners. Enterprises have focused on learning high-tech industry models, automation, smart factories and advanced production technologies. At the same time, they are proactively developing trade cooperation models to enhance product value and production capacity.

Nguyen Trong Luat, General Director of Cicor Vietnam Co., Ltd. in Vietnam – Singapore Industrial Park 1 expressed his great honor and pride in initiating and serving as a bridge for the cooperation between Fraunhofer ENAS (Germany) and Becamex IDC, which led to the establishment of the first Research and Development (R&D) Center for microelectronics and nanotechnology in Vietnam. This center lays a strategic foundation for Vietnam’s ambition in chip design, development and semiconductor manufacturing in the future. Not only being infrastructure, this center will also be a convergence point of global talents, technologies and investment right in Binh Duong.

In terms of Fraunhofer ENAS, Mr. Luat noted that it is one of Germany’s and Europe’s leading research institutes in microsystems and nanotechnology. It brings world-class scientific expertise, innovation capacity and strong industrial partnerships. This is a forward-thinking and strong partner accompanying Vietnam on this significant transformation journey. He emphasized that the journey from Chemnitz that is home of Fraunhofer ENAS to Binh Duong is built on trust, cooperation and a shared vision for the future.

Pham Ngoc Phuoc, Head of Binh Duong Furniture Association (BIFA)’s Trade Promotion Committee stated that in a bid to seek sustainable development opportunities for local enterprises, BIFA and COBI International Co., Ltd. (COBI Group) officially signed a Memorandum of Understanding (MOU). This marks the beginning of a strategic and sustainable cooperation relationship in wood processing and trade promotion. The two parties committed to connecting member enterprises to enhance collaboration, share experience and develop together; co-organize domestic and international trade fairs and promotion events; share market information and support product distribution and facilitate BIFA members in using event spaces at Cobi Tower and Cobi Home.

According to Phan Le Diem Trang, Vice Chairwoman of Binh Duong provincial Textile and Garment Association, Vietnam’s auxiliary industries have not caught up with the rapid development of the export-oriented textile sector yet. Particularly, the stages of weaving, dyeing, printing and finishing textile fabric are still bottlenecks in the entire textile supply chain. “In the near future, the textile and garment sector is expected to have significant development opportunities as Vietnam engages in various free trade agreements and benefits from the shift of the global supply chain. To uphold these opportunities, enterprises in the sector seek joint ventures, investment partnerships, enhanced vocational training, workforce attraction and improvement in quality management, labor conditions, environmental standards and completion of the textile supply chain to meet international standards”, said Mrs. Trang.

Effectively seizing opportunities

Phan Thi Khanh Duyen, Deputy Director of provincial Department of Industry and Trade affirmed that the global economic and political situation remains uncertain, with major economies frequently adjusting their trade policies. Therefore, it is extremely necessary for enterprises to update and grasp new trends of international economic integration as well as assessing the impact and strengthening international economic cooperation in the coming time so that enterprises can develop effectively.

Regarding the utilization of free trade agreements, Pham Trung Nghia, Deputy Chief of the Office of the Interdisciplinary Steering Committee on International Economic Integration under the Ministry of Industry and Trade presented specific solutions for enterprises in the province. He emphasized the need to effectively seize opportunities from shifts in trade and investment flows. He also encouraged businesses to strategically exploit the Chinese market that is still a key partner for both exporters and importer through official channels and cross-border trade for both standard and non-standard goods.

Mr. Nghia also urged enterprises to maximize opportunities in markets involved in free trade agreements with Vietnam, particularly the European Union (EU), Canada, Mexico and Israel. He stressed the importance of compliance with rules of origin (C/O) and sustainable development goals.

Reported by Tieu My-Anh Tuan-Translated by Kim Tin