The "home field" advantage…

"The shift of supply chains - opportunities for Vietnamese businesses" was the theme of a seminar organized by provincial People's Committee in collaboration with the Department of Industry under the Ministry of Industry and Trade yesterday afternoon, September 15. The scale of the seminar with core topics of production and business in a new stage with valuable discussions from large domestic and foreign investors will certainly open up appropriate policies for sustainable, high-value industrial development.

The flow of investment, shifting the global supply chains to Asia over the past time had an opportunity to be seen. Along with that, the disruption of the supply chain for domestic production and business during the stressful pandemic period has posed a problem that needs to be solved if we want to develop a sustainable industrial production.

Binh Duong is a locality that strongly attracts investment resources, especially FDI capital. The province is now home to more than 4,000 FDI enterprises and more than 58,000 domestic ones that are impressive figures. Especially, despite being in the difficult period, due to the epidemic over the past two years, the province still constantly lured investment with the number of newly established enterprises on ceaseless increase. Not only rapidly increasing the amount of investment capital, Binh Duong also absorbed many foreign investors with great capital, experience and high technology…

According to a report by provincial Department of Industry and Trade, the whole province has lured nearly 2,300 enterprises in auxiliary industries, including many enterprises in key export industries. Among them, there are 953 wood processing enterprises, 710 mechanics enterprises, 442 textile and garment enterprises, 172 footwear enterprises... Unfortunately, for many objective and subjective reasons, auxiliary industries in the province have only contributed a very small part to the local supply chain. Most enterprises in the province now depend on imported raw materials.

The province’s foreign investment attraction has increased sharply with many big brands. The province’s industrial manufacture has also thrived with many key industries and auxiliary industries have lured the participation of enterprises. Along with that, the province has implemented large-scale projects on Smart City, Innovation Zone, Science and Technology Industrial Park... All can be considered as the significant advantages of domestic enterprises if there are policies and strategies for development.

Reported by Trieu Phong-Translated by Kim Tin

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