Vietnam seeks ways to engage more deeply in global value chains
Vietnam has successfully integrated in several global value chains and can increase its added value by policy reforms and initiatives in the fields of transport, services, border procedures and regional integration, said Ousmane Dione, World Bank (WB) Country Director for Vietnam.
World Bank WB Country Director for Vietnam Ousmane Dione speaks at the workshop on september 7 (Photo: VNA)
Hanoi(VNA) – Vietnam has successfully integrated in several global value chains andcan increase its added value by policy reforms and initiatives in the fields oftransport, services, border procedures and regional integration, said OusmaneDione, World Bank (WB) Country Director for Vietnam.
He made thestatement at a workshop held by the WB in Hanoi on September 7 to release tworeports, titled “Vietnam at a crossroads: Engaging in the next generation ofglobal value chains” and “Enhancing enterprise competitiveness and SME linkages.”
Deputy Minister ofIndustry and Trade Do Thang Hai said that the two reports provide Vietnam withmeasures to participate in the new generation of global value chains as well astightening linkages between domestic and foreign enterprises.
The “Vietnam at acrossroads: Engaging in the next generation of global value chains” reportshows that Vietnam can continue its growth as an export platform with the focuson outsourcing and assembling, and take advantage of the current wave of growth to climb the value chain into higher value-added functions.
The reportrecommends Vietnam improve coordination between ministries and sectors, createfavourable conditions for domestic and foreign business to exchangeinformation, and support domestic suppliers.
If achieving ahigher position in global value chains, Vietnam can attract more big foreigninvestors, thus helping generate more jobs and open up more opportunities fordomestic suppliers.
To that end, thecountry has to have a comprehensive reform initiative pack, including narrowinginfrastructure-related gap, developing competitive service markets andliberalise regulations on foreign direct investment, streamline borderprocedures, and boosting cooperation with developed countries.
Meanwhile,according to the “Enhancing enterprise competitiveness and SME linkages”report, Vietnam should support the development of enterprises which havepotential in “invented-in-Vietnam” products.
On this occasion,Ousmane Dione chaired a talk on Vietnam’s main issues in engaging in the nextgeneration of global value chains and linking with foreign-investedbusinesses.-VNA
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World Bank WB Country Director for Vietnam Ousmane Dione speaks at the workshop on september 7 (Photo: VNA) 
