Provincial enterprises are ready to join the global supply chain

At the 2024 Horasis China Meeting, the domestic business community had the opportunity to access new sources of information, experience and knowledge to promote cooperation. This will contribute to stimulate economic development, creating new opportunities for businesses in the province.

Representatives of Vietnamese and Chinese businesses discuss investment and cooperation opportunities at the Horasis China Meeting 2024

 Opportunity to enter a new playground

Hung Mong, Vice President and Secretary General of the China Federation of Industrial Economics (CFIE), said that in recent years, bilateral economic, trade and investment cooperation between the two countries has been very strong and achieved many good results. According to Mr. Hung Mong, China has been Vietnam's largest trade partner for many years. Vietnam is also China's largest trade partner in ASEAN and the 4th in the world, with bilateral trade turnover in three consecutive years exceeding 200 billion USD.

Mr. Hung Mong hopes that the Horasis China Meeting will open up opportunities for development cooperation for businesses of the two countries, including Binh Duong. “Currently, CFIE has more than 300 different associations and its members are all large corporate groups, including FDI enterprises covering all industrial sectors of China. With the long history of trade relations between the two countries, I believe that after this forum there will be more cooperation and investment from Chinese and Vietnamese enterprises," said Mr. Hung Mong.

Businesses and industry associations in the province hope that Binh Duong would continue to attract high-quality capital flows from China to create jobs for businesses and workers. In addition, expanding trade will create opportunities for the supply chain of goods to be completed, creating conditions for businesses to develop more in the future. Mr. Luu Tri, General Director of Nghe Nang Company Limited (Thuan An City), said: “We hope that through this forum, high-quality Chinese capital will flow into Binh Duong, opening up the supply chain of goods for local businesses, creating conditions for the development of science, technology and business. Regarding the supply chain, China is a country of raw materials and accessories in many fields. Expanding trade and cooperation with China will create more favorable conditions for businesses to access good raw materials and lower product prices."

Talking about the ability to participate in the supply chain of local businesses, Mr. Tran Thanh Trong, General Director of Sang Ban Mai Joint Stock Company (Ben Cat Town), said that many years ago, the company provided generators for Sunwah Group's investment projects. He hopes that in the coming time, the group would continue to invest in Binh Duong, choose reputable suppliers to participate in the goods supply chain.

Dr. Jonathan Choi, Chairman of Sunwah Group (China), said more specifically about the investment orientation and cooperation with Becamex IDC Corporation: “We visited Becamex IDC's facilities, the Intelligent Operation Center (IOC), Binh Duong is doing very well in digitizing industrial production. If we work together, we can bring some upgraded solutions, for example 5G technology here will be faster and more accurate. In addition, we can also expand green elements, not only in factories but also in the entire province. That will help Binh Duong improve digital capacity as well as develop a green environment and upgrade industrial production."

Develop production and upgrade technology

Associate Professor-Dr. Ho Thi Thu Hoa, Dean of the Faculty of Supply Chain Management and Logistics, Ho Chi Minh City National University, commented that in the current context, people and businesses, especially small and medium-sized enterprises, are facing many difficulties. The Vietnamese government and Binh Duong government have also directed very drastic solutions to remove difficulties for people and businesses. In addition, facing major challenges from the 4.0 industrial revolution, digital transformation is identified as an important solution and an inevitable trend for businesses to improve capacity, competitive advantage, and accelerate development.

To create conditions for businesses to upgrade production and develop technology, Mr. Pham Ngoc Thuan, General Director of Becamex IDC Corporation, said that Becamex IDC is building a digital and innovative ecosystem, like: Intelligent Operation Center (IOC), EIU Campus with Becamex Business Incubator, Fablab, Techlab, Start-up and Advanced Manufacturing Center, Vietnam - Singapore 4.0 Industrial Innovation Center...

Becamex IDC has pioneered in the application of green energy transition in industrial parks, placing sustainable development factors, creating advantages for investors to implement ESG and Net Zero goals through cooperation with the innovation ecosystem of major international partners, such as the World Bank and the German Federal Organization for International Cooperation (GIZ). Becamex IDC is a leading enterprise accompanying Binh Duong province in strategic programs, especially with orientations towards innovation and sustainable development. Eastern International University - EIU aims to be an innovation center, a cradle for developing high-quality human resources, focusing on promoting research and application, technology transfer, and serving the business community in Binh Duong.

 Reported by Tieu My - Translated by Ngoc Huynh