How can auxiliary firms quickly integrate into the global supply chain?

DNHN - Supporting industry businesses must aggressively seek solutions, increase connectivity, and prioritize investment to progressively reform production processes, modernize machinery and equipment, train human resources, and improve efficiency. Productivity, technical innovation, and gradual inclusion in the global supply chain

Only 20% of linkage chains were participated in by the Deputy Director of Enterprise Development Department, Ministry of Planning and Investment, domestic supporting firms, and small and medium-sized enterprises. Currently, FDI businesses want to acquire items from domestic enterprises. However, our domestic firms' standards and technological requirements fall short of expectations. Furthermore, domestic firms are currently confronted with several challenges, including the inability to get funding for industrial operations.

Economic experts say that businesses in supporting industries and industries must actively seek solutions, strengthen connections, and focus on gradually transforming the production process, upgrading machinery and equipment, and training human resources to accelerate the change of production processes and technology toward more modern, effectively improving production productivity, innovating technology, and moving forward. In addition, management agencies must have policies in place to assist industrial firms in gaining access to efficient financial resources to invest in technology lines and machinery for the manufacturing process.

Mr Nguyen Van, Standing Vice Chairman of the Association of Supporting Industry Enterprises in Hanoi, advocated that in the current moment, there should be solutions for firms in the industry to access funding for production activities.

PV