Exciting B2B commerce between Vietnam and Taiwan

DNHN - In 2023, the Vietnam Association of Small and Medium Enterprises (VINASME) and the Taiwan Trade Promotion Council (TAITRA) collaborated to organise the Vietnam - Taiwan Business Meeting Programme (B2B Meeting).

Today (October 18), the Vietnam Association of Small and Medium Enterprises (VINASME) coordinated efforts to assist Vietnamese and Taiwanese businesses in identifying opportunities to connect trade and investment to expand markets. We organised the Vietnam - Taiwan Business Meeting Programme (B2B Meeting) in 2023 in collaboration with the Taiwan Trade Promotion Council (TAITRA).

Representatives of leading Vietnamese and Taiwanese businesses in the following fields are participating in the Programme: computers, electromagnetic devices, electronic components, electronic sensors, consumer devices, 3D glass production, fire escape temples, Wifi-connected projector systems, smartphone backup devices, and network security and privacy application device.

Dr To Hoai Nam, Permanent Vice President and General Secretary of VINASME began the programme by stating, "The Vietnamese business community currently contributes approximately 40 per cent of the entire society's investment. This is one of the three regions contributing the most to the total investment capital of the society. In the past decade, the international participation rate of Vietnamese small and medium-sized businesses increased from 2.8% to 5.8%, which is not insignificant. Approximately 50,000 businesses participate directly or indirectly in international economic activities, according to our estimations. Today, the Vietnam - Taiwan Business Meeting programme was organised by VINASME and TAITRA to create opportunities for Vietnamese small and medium-sized enterprises to exchange and collaborate with Taiwanese businesses.

Mr Nam commented on the rationale behind the B2B meeting format, stating, "B2B is the most effective method for organising the programme. Our B2B forms typically achieve a success rate between 9 and 14 per cent, a rate we consider to be relatively high based on historical data. Therefore, if 100 businesses are in contact with one another, the maximum number of businesses that can sign specific cooperation activities is 14, and the minimum number is 9. Why are nine to fourteen businesses absent? It is determined by fundamental factors such as the field in which the implementation is centred and the roles of the two parties connecting the businesses. These two connecting parties must have business acumen and not be afraid of obstacles. After today's meeting between the two companies, there will still be several challenging issues that must be resolved for the cooperation to be successful.

Regarding Taiwan, Dr. To Hoai Nam determined that this region has a highly effective approach to the development of small and medium-sized businesses. Consequently, he has a great deal of faith in the Taiwanese business community, particularly the small- and medium-sized business sector.

Mr Nam hopes that during today's meeting, businesses will strive to be honest about their capabilities and share the most applicable experiences to make the most of this valuable cooperation.

At the programme, businesses from Vietnam and Taiwan engaged in in-depth negotiations, jointly showcasing their products and services to expand cooperation opportunities and find new clients.

Mr. Aaron Cheng - Head of the Representative Office of the Taiwan Trade Promotion Centre (TaiTra) - told a reporter from Business and Integration Magazine, "We are thrilled to have the opportunity to collaborate with Vietnamese small and medium enterprises. This time, we have eight companies with products related to information technology participating. Through such endeavours, we hope to increase trade between Vietnam and Taiwan, supplying Vietnamese businesses and individuals with high-quality and secure information technology products. In the future, we encourage Vietnamese companies to learn about and collaborate with Taiwanese companies in fields such as information technology, medical treatment, green energy, electric vehicles, and components and accessories. refer to. Currently, we both have representative offices in Hanoi and Ho Chi Minh City, and we will do our best to support and promote the growth of Taiwanese and Vietnamese businesses."

Several representative businesses from Vietnam and Taiwan discussed and shared their hopes for this meeting with reporters during the programme.

Representatives of Shutter Company from Taiwan, Mr. William Liu - Regional Sales Director, in charge of Vietnam and Korean markets, and Ms. Alice Chen - Regional Sales Director, in charge of Thailand and the Philippines, stated: "Our company distributes two types of electronic equipment: one for commerce (for businesses) and one for industry (for factories and plants)." The Vietnamese market is on the rise, and through this programme, we hope to be able to promote our products in Vietnam and meet a large number of businesses to increase cooperation opportunities. Using this B2B programme, we can determine whether or not our company's products are suitable for the Vietnamese market. Today, we met with a large number of Vietnamese businesses and obtained initial results."

Mr. Tran Ho Phuong, General Director of Aloxy Technology Investment and Development Joint Stock Company, a representative from Vietnam, stated, "My company specialises in providing total solutions for urban areas and projects. State and major metropolitan systems. I hope to discover solutions about IoT (Internet of Things, or Internet of Things, specifically), sensor systems, and machine systems. integrating industrial computing into Smart City systems for use in urban decoration solutions. We are currently interested in two product lines. The first is integrated industrial computer systems with information display systems and IoT input connectivity. Because this system is well-suited for the upcoming products that the company will launch. The sensor measurement system for the quality of internal and external environmental indicators is another product in which we are very interested. Currently, the Taiwanese side is also offering solutions to this problem, so I hope to find a partner with the same goal of cooperation."

Mr. Jack Chen, Sales Director of Nexcom Company, who specialises in network security and hardware-related issues, stated: "At present, our company primarily collaborates with corporations, factories, and offices. Vietnam, in my opinion, is a developing nation that also pays great attention to cybersecurity issues; therefore, I hope to gain a better understanding of the Vietnamese market and find opportunities to collaborate with Vietnamese business partners through today's programme."

This programme is viewed as a stepping stone for the establishment of cooperative relationships and the expansion of investment opportunities between Vietnamese and Taiwanese businesses. Through the programme, VINASME pledges to be prepared to accompany and assist Vietnamese businesses so that today's meeting yields the best possible results.

"VINASME strives to create conditions conducive to the long-term cooperation of businesses from both countries; therefore, businesses participating today should exchange and collaborate most authentically. Dr. To Hoai Nam expressed his hope that today's event will help the Association increase the success rate of each B2B event.

The B2B business model (abbreviation for Business to Business) refers to the form of commerce and exchange between businesses. It can be said that business-to-business (B2B) is a significant form of commerce that plays a significant role in boosting the revenue and competitiveness of businesses. B2B is favoured by many businesses because business-to-business transactions and collaboration bring diverse benefits and increased efficiency. Businesses can also work together to strengthen their market position. market by way of outsourcing cooperation, investment cooperation, and collaboration.

Bao Trinh